This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of complex organic molecules, particularly those with potential therapeutic applications. Its unique spirocyclic structure makes it valuable for constructing diverse chemical libraries used in drug discovery. The compound is often employed in the preparation of biologically active molecules, including those targeting neurological disorders and cancer. Additionally, it is used in asymmetric synthesis to create chiral compounds, which are essential for developing enantiomerically pure drugs. Its versatility in organic synthesis also extends to the creation of novel materials with specific properties for industrial applications.