Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its unique spirocyclic structure makes it valuable in the development of novel drug candidates, particularly in the field of anti-inflammatory and antimicrobial agents. Additionally, it is employed in the synthesis of advanced materials, such as photochromic compounds, which are utilized in smart lenses and optical data storage systems. Its application extends to research laboratories, where it is studied for its potential in creating new chemical entities with specific biological activities.