This compound is primarily utilized in organic synthesis as a building block for more complex molecules. Its unique spirocyclic structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of bioactive compounds. It can serve as a precursor in the creation of novel drugs, especially those targeting neurological or inflammatory pathways. Additionally, it is employed in the production of fine chemicals and specialty materials, where its carboxylic acid group allows for further functionalization. Its application also extends to research and development in medicinal chemistry, where it aids in the exploration of new therapeutic agents.