This compound is primarily used in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its bicyclic structure and functional groups make it a valuable building block for the development of drugs, particularly those targeting the central nervous system (CNS). It is often employed in the production of chiral compounds, where its stereochemistry plays a critical role in ensuring the desired biological activity of the final drug product. Additionally, its stability and reactivity make it suitable for use in complex organic synthesis processes, including asymmetric catalysis and multi-step reactions.