This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the development of pharmaceuticals. It serves as a key intermediate in the production of steroid-like molecules, which are crucial for creating anti-inflammatory and hormonal medications. Additionally, it is employed in research settings to study stereochemistry and reaction mechanisms, aiding in the design of more efficient synthetic pathways. Its unique structure also makes it valuable in the development of novel materials with specific optical or electronic properties.