This compound is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of complex molecules due to its fused ring system, which can enhance the stability and biological activity of the final products. Additionally, it is employed in research settings for the synthesis of novel organic compounds, aiding in the exploration of new chemical reactions and pathways. Its versatility makes it a significant component in the field of medicinal chemistry, where it contributes to the creation of potential therapeutic agents.