This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique bicyclic structure makes it a valuable building block for the development of pharmaceutical agents, particularly those targeting neurological and cardiovascular disorders. Additionally, it has been explored for its potential use in the creation of novel materials with specific optical or electronic properties. Researchers also investigate its role in asymmetric synthesis, leveraging its chiral centers to produce enantiomerically pure compounds, which are crucial in the development of drugs with higher efficacy and reduced side effects.