This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals. It plays a crucial role in the development of complex molecules, especially those involving bicyclic structures. Its application is significant in the synthesis of certain alkaloids and other biologically active compounds. The tert-butoxycarbonyl (Boc) protecting group in the molecule allows for selective reactions, making it valuable in multi-step synthetic processes. Additionally, its bicyclic framework is often utilized in medicinal chemistry to create compounds with specific pharmacological properties, such as receptor binding or enzyme inhibition.