This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. Its unique spirocyclic structure makes it valuable for developing drugs that target the central nervous system, particularly for treating neurological disorders such as depression, anxiety, and schizophrenia. Additionally, it is employed in the creation of ligands for receptors and enzymes, aiding in the discovery of new therapeutic agents. Its versatility also extends to organic synthesis, where it serves as a building block for complex molecules in medicinal chemistry research.