Used primarily as an intermediate in organic synthesis, especially in the development of pharmaceuticals and functional materials. Its unique bridged heterocyclic structure makes it valuable for constructing complex molecules with potential bioactivity. It is also explored in materials science for designing novel conductive or electroactive polymers due to the presence of the thiophene-like ring system. Additionally, derivatives of this compound may serve as building blocks in medicinal chemistry for drug discovery targeting central nervous system disorders or inflammatory conditions.