This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its spirocyclic structure makes it a valuable scaffold for developing compounds that interact with specific receptors in the central nervous system, such as serotonin or dopamine receptors. Researchers often employ it to create potential drug candidates for conditions like depression, anxiety, and schizophrenia. Additionally, its stability and reactivity make it suitable for further chemical modifications, enabling the exploration of new therapeutic agents.