This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of complex molecules. Its structure, featuring a spirocyclic framework and functional groups like benzyl and hydroxymethyl, makes it valuable for constructing biologically active compounds, particularly in the design of drugs targeting the central nervous system. It is often employed in the preparation of enzyme inhibitors or receptor modulators due to its ability to interact with specific biological targets. Additionally, its tert-butyl carboxylate group provides stability and facilitates further chemical modifications, making it a versatile building block in medicinal chemistry. Researchers also explore its potential in creating novel therapeutic agents for conditions such as neurological disorders or infectious diseases.