Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Its unique bicyclic structure makes it valuable for creating compounds with specific biological activities. It is also employed in research to study chemical reactions involving strained ring systems, aiding in the understanding of reactivity and stability in organic chemistry. Additionally, it may serve as a precursor in the synthesis of ligands for catalysis, contributing to advancements in material science and industrial processes.