This chemical is primarily utilized in advanced organic synthesis, particularly in the development of chiral catalysts and ligands. Its unique structure, featuring a spirobiindene core, makes it highly effective in asymmetric catalysis, enabling the production of enantiomerically pure compounds, which are crucial in pharmaceuticals and fine chemicals. Additionally, it is employed in material science for the creation of optically active polymers and advanced organic electronic materials, where its stability and chiral properties enhance performance. Its iodine substituents also make it a potential candidate for applications in radiopharmaceuticals and imaging agents.