This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of bioactive molecules. It serves as a key intermediate in the creation of compounds that target neurological disorders, such as anxiety and depression, due to its spirocyclic structure known for activity in the central nervous system. Additionally, it is explored for its potential in modulating receptors and enzymes involved in various biochemical pathways, making it valuable in drug discovery efforts. Its application extends to the study of receptor-ligand interactions, aiding in the design of novel therapeutic agents.