This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of complex molecules. Its unique structure makes it valuable for constructing frameworks in natural product synthesis, particularly in the development of compounds with potential pharmaceutical applications. It is often employed in the synthesis of steroids and other biologically active molecules due to its rigid bicyclic system, which can mimic certain natural structures. Additionally, it is explored in research for its potential role in creating novel therapeutic agents, particularly in areas such as anti-inflammatory and anticancer drug development. Its stereochemistry also makes it a useful chiral building block in asymmetric synthesis.