This compound is primarily utilized in the field of organic synthesis as a key intermediate in the production of complex molecules, particularly in the development of pharmaceuticals. Its bicyclic structure makes it a valuable building block for creating compounds with potential biological activity. It is often employed in the synthesis of chiral drugs, where its stereochemistry plays a crucial role in determining the efficacy and specificity of the final product. Additionally, it serves as a precursor in the preparation of peptidomimetics, which are used to mimic the structure and function of peptides in drug design. Its application extends to research in medicinal chemistry, where it aids in the discovery of new therapeutic agents targeting various diseases.