This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various therapeutic agents, including those targeting central nervous system disorders. Its structural framework is valuable in developing compounds with potential analgesic or anti-inflammatory properties. Additionally, it finds application in agrochemical research for creating novel pesticides or herbicides. Its unique bicyclic structure also makes it a useful building block in organic chemistry for constructing more intricate molecular architectures.