This chemical is primarily utilized in the field of organic synthesis, particularly in the development of complex molecular structures. It serves as a key intermediate in the production of pharmaceuticals, where it aids in the creation of compounds with potential therapeutic properties. Additionally, it is employed in the research and development of new materials, especially those requiring specific electronic or photochemical characteristics. Its unique structure makes it valuable in the study of spiro compounds, which are often explored for their biological activity and material science applications.