This chemical is primarily utilized in the field of organic synthesis and coordination chemistry due to its unique spirocyclic structure, which makes it a valuable ligand for metal ion complexation. Its ability to form stable complexes with transition metals is leveraged in the development of catalysts for various chemical reactions, including polymerization and oxidation processes. Additionally, it is explored in supramolecular chemistry for designing molecular frameworks and host-guest systems. Its potential applications extend to the pharmaceutical industry, where it is studied for its role in drug delivery systems and as a building block for bioactive molecules.