This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. Its structure, featuring both a formyl group and a spirocyclic system, makes it valuable in the construction of pharmacologically active compounds, particularly in the field of medicinal chemistry. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery for targeting various biological pathways. Additionally, its reactive formyl group allows for further functionalization, enabling the creation of diverse chemical libraries for screening potential therapeutic agents.