This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique bicyclic structure makes it valuable for constructing pharmacologically active compounds, particularly in the development of drugs targeting neurological disorders. Additionally, it is employed in the synthesis of chiral ligands, which are crucial in asymmetric catalysis for creating enantiomerically pure substances. Its application extends to material science, where it contributes to the development of novel polymers with specific mechanical and thermal properties.