This compound is primarily utilized in the field of organic synthesis as a versatile intermediate for the development of more complex chemical structures. Its unique spirocyclic framework makes it valuable in the design of pharmaceuticals, particularly in the synthesis of bioactive molecules that target neurological and inflammatory disorders. Additionally, it serves as a key building block in the creation of novel organic materials, such as liquid crystals or polymers, due to its rigid and stable cyclopropane ring fused with a benzofuran moiety. Researchers also explore its potential in agrochemical applications, where it can be incorporated into the synthesis of herbicides or pesticides with enhanced efficacy. Its structural features allow for further functionalization, enabling the development of compounds with tailored properties for specific industrial or scientific purposes.