This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. Its unique spirocyclic structure makes it valuable in the development of drugs targeting the central nervous system, particularly for conditions like anxiety, depression, and neurodegenerative disorders. Additionally, it is employed in the creation of ligands for receptor studies, aiding in the understanding of biochemical pathways and drug-receptor interactions. Its versatility also extends to its use in organic synthesis, where it serves as a building block for complex chemical structures in medicinal chemistry research.