This compound is primarily utilized in medicinal chemistry and pharmaceutical research as an intermediate in the synthesis of biologically active molecules. Its structure, featuring a spirocyclic indene-piperidine system, makes it valuable for developing compounds targeting central nervous system (CNS) disorders. It is often employed in the design of potential therapeutic agents for conditions such as anxiety, depression, and neurodegenerative diseases. Additionally, the presence of the tert-butoxycarbonyl (Boc) protecting group allows for selective modifications during multi-step synthetic processes, enhancing its utility in drug discovery and development.