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 biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its unique spirocyclic structure makes it valuable for creating compounds with potential therapeutic effects, such as enzyme inhibitors or receptor modulators. Researchers often explore its derivatives for their potential in treating conditions like anxiety, depression, and neurodegenerative diseases. Additionally, its chemical properties make it suitable for use in organic synthesis, enabling the creation of complex molecular architectures for further pharmacological studies.