This compound is primarily utilized in the field of medicinal chemistry due to its structural properties, which make it a valuable intermediate in the synthesis of various pharmacologically active molecules. It is often explored for its potential in developing new therapeutic agents, particularly in the areas of central nervous system (CNS) disorders and anti-inflammatory treatments. Researchers are interested in its spirocyclic and chromene components, which are known to exhibit bioactivity and can be modified to enhance drug efficacy and selectivity. Additionally, its acetyl and hydroxyl groups provide reactive sites for further chemical modifications, enabling the creation of diverse derivatives for biological screening and drug development.