This compound is primarily utilized in the field of organic synthesis, where it serves as a valuable building block for the creation of complex molecules. Its bicyclic structure makes it particularly useful in the development of pharmaceuticals, especially in the design of drugs that target the central nervous system. The compound's rigid framework can enhance the binding affinity and selectivity of potential drug candidates. Additionally, it is employed in the synthesis of chiral catalysts, which are crucial for asymmetric synthesis in the production of enantiomerically pure substances. Its unique structure also finds applications in material science, where it can be used to develop novel polymers with specific properties.