This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its unique bicyclic structure makes it valuable for creating compounds with specific stereochemistry, which is crucial for drug efficacy. Additionally, it is employed in the development of chiral catalysts, which are essential for asymmetric synthesis in the manufacturing of enantiomerically pure substances. The compound's rigid framework also contributes to its use in materials science, particularly in the design of novel polymers with enhanced mechanical properties.