This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active compounds, particularly those targeting neurological and psychiatric disorders. Its unique structure allows for the creation of spirocyclic compounds, which are often explored for their potential therapeutic effects. Additionally, it is used in the study of enzyme inhibition and receptor modulation, contributing to the discovery of new drug candidates. Its applications also extend to material science, where it aids in the synthesis of novel organic materials with specific electronic or photophysical properties.