This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. Its structure, featuring a benzyl group and a spirocyclic system, makes it a valuable scaffold for developing compounds with potential therapeutic effects. It is often explored in the design of drugs targeting the central nervous system, particularly for conditions like anxiety, depression, and neurodegenerative disorders. Additionally, its unique chemical framework allows for modifications that can enhance binding affinity to specific biological targets, making it a versatile building block in drug discovery and development.