Used in pharmaceutical synthesis as an intermediate for developing bioactive molecules, particularly in the production of central nervous system agents and neurological therapeutics. Its structure supports the creation of compounds with receptor affinity for neurological targets, making it valuable in drug discovery. Commonly employed in the development of cholinesterase inhibitors and related cognitive enhancers. Also utilized in research settings for building complex heterocyclic systems due to its rigid bicyclic framework and functional handle for further chemical modification.