This compound is primarily utilized in organic synthesis and pharmaceutical research as a building block for the development of complex molecules. Its unique bicyclic structure makes it valuable in the design of drugs targeting neurological disorders, as it can mimic certain natural substrates or inhibitors in biological systems. Additionally, it serves as a precursor in the synthesis of chiral catalysts, which are essential in asymmetric synthesis for producing enantiomerically pure compounds. Its hydrochloride form enhances solubility, making it easier to handle in various chemical reactions.