This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the production of compounds targeting neurological disorders, such as anxiety and depression, due to its spirocyclic structure, which is often associated with enhanced binding affinity to specific receptors. Additionally, it is employed in the development of drugs for cardiovascular diseases, leveraging its ability to modulate enzyme activity or receptor interactions. Its stability and reactivity make it a valuable building block in medicinal chemistry for creating novel therapeutic agents.