This compound is primarily utilized in the field of organic synthesis and medicinal chemistry. It serves as a building block for the development of complex molecules, particularly in the design of pharmaceuticals. Its unique bicyclic structure makes it valuable for creating compounds with specific steric and electronic properties, which can be crucial for drug activity. Additionally, it is used in research to study enzyme interactions and receptor binding, aiding in the discovery of new therapeutic agents. Its applications also extend to material science, where it can be incorporated into polymers or other materials to modify their properties.