Used primarily in organic synthesis, this compound serves as a catalyst or reagent in various chemical reactions. It is particularly effective in facilitating the formation of complex molecular structures, especially in the synthesis of pharmaceuticals. Its bicyclic structure provides stability and reactivity, making it valuable in the development of drugs targeting neurological and cardiovascular diseases. Additionally, it is employed in research settings to study reaction mechanisms and optimize synthetic pathways. Its versatility and efficiency make it a key component in advancing medicinal chemistry and drug discovery.