This chemical is primarily used in the field of organic synthesis, where it serves as a key intermediate in the production of complex organic compounds. Its unique structure, featuring spirobiindane and hydroxyl groups, makes it valuable for constructing molecules with specific stereochemical properties. It is often employed in the development of advanced materials, such as liquid crystals, which are essential for display technologies like LCDs. Additionally, it finds application in the synthesis of pharmaceuticals, particularly in creating chiral drugs where precise molecular geometry is critical for biological activity. Its bromine substituents also make it a useful precursor in cross-coupling reactions, which are widely used in medicinal chemistry and material science.