This chemical is primarily utilized in the synthesis of chiral ligands and catalysts, which are essential in asymmetric synthesis. Its unique spirobiindane structure and chiral centers make it valuable for creating enantioselective compounds, particularly in pharmaceutical manufacturing where specific stereochemistry is crucial. It is also employed in the development of advanced materials, such as liquid crystals and polymers, where its rigid framework and optical properties enhance performance. Additionally, it serves as a building block in organic chemistry research for constructing complex molecular architectures.