This compound is primarily utilized in pharmaceutical research and development, particularly as an intermediate in the synthesis of complex organic molecules. Its unique spirocyclic structure makes it valuable in the design and production of drugs targeting neurological disorders, such as antidepressants and antipsychotics. Additionally, it serves as a building block in medicinal chemistry for creating compounds with potential therapeutic effects, including those aimed at treating cardiovascular diseases. Its role in drug discovery is significant due to its ability to enhance the bioavailability and stability of active pharmaceutical ingredients.