This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. Its unique bicyclic structure makes it a valuable intermediate in the development of complex molecules, particularly in the synthesis of biologically active compounds. It is often employed in the construction of drug candidates, especially those targeting neurological disorders, due to its ability to mimic certain structural motifs found in natural products. Additionally, its carboxylic acid group allows for further functionalization, enabling the creation of derivatives with tailored properties for specific applications in medicinal chemistry. Researchers also explore its potential in designing novel materials and catalysts, leveraging its rigid framework to influence reactivity and stability in chemical processes.