This chemical is primarily utilized in organic synthesis as a versatile intermediate for the development of complex molecular structures. It is often employed in the synthesis of pharmaceuticals, particularly in the construction of bicyclic frameworks that are common in active drug molecules. Its unique structure allows it to participate in various cyclization and ring-opening reactions, making it valuable for creating heterocyclic compounds. Additionally, it is used in research and development for exploring new chemical reactions and pathways, contributing to advancements in medicinal chemistry and material science.