This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various drugs, especially those targeting neurological and cardiovascular disorders. Its unique bicyclic structure and functional groups make it valuable for constructing chiral centers, which are crucial for the biological activity of many therapeutic agents. Additionally, it is employed in research and development for creating novel compounds with potential medicinal properties, leveraging its stereochemistry to enhance drug efficacy and specificity.