This compound is primarily utilized in the field of medicinal chemistry, where it serves as a key intermediate in the synthesis of pharmaceutical agents. Its adamantane moiety is particularly valuable due to its ability to enhance the lipophilicity and stability of drug molecules, making it useful in the development of treatments for neurological disorders, including Alzheimer's disease and Parkinson's disease. Additionally, its structural features allow it to interact with specific biological targets, such as NMDA receptors, which are critical in modulating synaptic plasticity and memory function. The compound’s hydroxy and amino groups further enable its integration into more complex molecules, facilitating the creation of drugs with improved bioavailability and therapeutic efficacy.