This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of complex molecules, particularly in the development of pharmaceuticals and fine chemicals. Its unique bicyclic structure makes it valuable for constructing strained ring systems, which are often found in bioactive compounds. Additionally, it is employed in catalytic processes, including asymmetric synthesis, where its stereochemistry plays a critical role in achieving high enantioselectivity. Researchers also explore its potential in material science for designing novel polymers with specific mechanical or chemical properties.