This chemical is primarily utilized in the field of organic synthesis as a key intermediate for the development of complex molecular structures. Its unique cyclopropylidene and indenoxazole framework makes it valuable for constructing pharmacologically active compounds, particularly in the design of novel drugs targeting specific biological pathways. Researchers leverage its stereochemistry to create chiral molecules with potential applications in asymmetric synthesis, which is critical for producing enantiomerically pure substances. Additionally, its rigid structure is explored in material science for developing advanced polymers or coatings with enhanced stability and performance.