This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders and cancers. Its unique spirocyclic structure makes it a valuable scaffold for designing inhibitors of specific enzymes or receptors involved in disease pathways. Researchers often modify this compound to enhance its pharmacokinetic properties, such as bioavailability and metabolic stability, making it suitable for potential therapeutic applications. Additionally, it has been explored in the development of compounds with anti-inflammatory and antimicrobial properties, broadening its utility in pharmaceutical research.