This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various pharmaceutical agents, particularly those targeting neurological and psychiatric disorders. Its adamantane moiety is known to enhance the lipophilicity and stability of drug molecules, making it valuable in the design of central nervous system (CNS) drugs. Additionally, it has been explored for its potential use in the development of antiviral and antimicrobial agents, leveraging its unique structural properties to improve drug efficacy and bioavailability. Researchers also investigate its role in creating novel therapeutic compounds for conditions like Parkinson's disease and Alzheimer's disease due to its ability to modulate neurotransmitter systems.