This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its spirocyclic structure makes it a valuable scaffold for developing compounds with potential therapeutic effects, such as modulators of neurotransmitter systems. Researchers often explore its derivatives for their efficacy in treating conditions like depression, anxiety, and cognitive impairments. Additionally, its unique chemical properties make it suitable for use in drug discovery programs aimed at identifying novel small-molecule therapies.