This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its spirocyclic structure makes it valuable for constructing complex frameworks often found in drug candidates, particularly those targeting neurological and cardiovascular diseases. It is also employed in the preparation of protease inhibitors, which are crucial in treating conditions like HIV and hepatitis. Additionally, its reactive sites allow for further functionalization, enabling the creation of diverse chemical libraries for high-throughput screening in drug discovery.