Used in organic synthesis as a chiral building block for pharmaceuticals, particularly in the development of central nervous system agents. It serves as an intermediate in the preparation of selective receptor modulators, including those targeting dopamine and serotonin receptors. Its rigid indane backbone enhances stereochemical stability, making it valuable in asymmetric synthesis and medicinal chemistry research. Also employed in the production of agrochemicals and functional materials where structural rigidity and amine functionality are required.