Used primarily as a chemical intermediate in organic synthesis, particularly in the production of specialty polymers and pharmaceuticals. Its rigid polycyclic structure makes it valuable in the development of advanced materials with enhanced thermal and mechanical stability. It also serves as a building block in the synthesis of complex natural products and bioactive molecules, where its strained bridgehead system enables unique reaction pathways. Additionally, derivatives of this compound are explored in materials science for potential use in optoelectronic devices due to their conjugated frameworks and electronic properties.