This chemical is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the preparation of more complex molecules. Its unique bicyclic structure makes it a valuable building block in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Additionally, it is employed in the production of specialty chemicals, where its reactivity can be harnessed to create novel materials with specific functional properties. Its application extends to research and development, where it is used to explore new chemical reactions and pathways, contributing to advancements in synthetic chemistry.