This compound is primarily utilized in pharmaceutical research as a key intermediate in the synthesis of biologically active molecules. Its structure, featuring a spirocyclic core and functional groups like benzyl and hydroxymethyl, makes it valuable for developing therapeutic agents targeting neurological disorders. It is often employed in the design of inhibitors for enzymes or receptors involved in neurodegenerative diseases. Additionally, its stability and reactivity allow for further chemical modifications, enabling the creation of diverse drug candidates. Researchers also explore its potential in medicinal chemistry for optimizing pharmacokinetic properties and enhancing drug efficacy.