This compound is primarily utilized in organic synthesis as a versatile building block, particularly in the construction of complex molecules through cross-coupling reactions. Its boronic acid functional group makes it valuable in Suzuki-Miyaura coupling, a widely used method for forming carbon-carbon bonds. This reaction is essential in the pharmaceutical industry for creating active pharmaceutical ingredients (APIs) and in materials science for developing advanced polymers and organic electronics. Additionally, its spirocyclic structure can impart unique steric and electronic properties, making it useful in designing molecules with specific reactivity or biological activity. It is also employed in the development of sensors and catalysts due to its ability to interact with various substrates selectively.