This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronate ester group serves as a key intermediate, enabling the formation of carbon-carbon bonds in the production of pharmaceuticals, agrochemicals, and advanced materials. The spirocyclic structure enhances stability, making it suitable for complex molecular constructions. It is also employed in the development of bioactive molecules and as a building block in medicinal chemistry for drug discovery and optimization.