Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals. It is particularly valuable in the development of drugs targeting neurological disorders due to its unique spirocyclic structure, which can enhance binding affinity to specific receptors. Additionally, it is employed in the creation of agrochemicals, where its structural properties contribute to the effectiveness of pesticides and herbicides. Its stability and reactivity make it a versatile building block in various chemical reactions, enabling the synthesis of complex molecules with potential therapeutic and industrial applications.