Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and biologically active molecules. Its structure allows for functionalization at multiple sites, making it valuable in constructing nitrogen-containing heterocycles. It is also employed in the development of agrochemicals and specialty chemicals where a constrained ring system with an exocyclic double bond is required. Due to its reactivity, it participates in cycloaddition and nucleophilic addition reactions, facilitating the synthesis of complex molecular architectures.