This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing complex organic molecules. It is often employed in the pharmaceutical industry for the synthesis of drug intermediates, where precise and efficient coupling reactions are essential. Additionally, its unique spirocyclic structure can impart stability and specific reactivity, which is advantageous in designing novel compounds for medicinal chemistry. The compound is also explored in material science for creating advanced polymers and functional materials with tailored properties.