This chemical is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of complex organic compounds. Its unique bicyclic structure makes it valuable for constructing molecules with specific stereochemistry, which is crucial in drug development. It is often employed in the preparation of active pharmaceutical ingredients (APIs) that target neurological and cardiovascular diseases. Additionally, its functional groups allow for further chemical modifications, enabling researchers to tailor its properties for specific therapeutic applications. Its role in medicinal chemistry highlights its importance in creating novel and effective treatments.