This chemical is primarily utilized in organic synthesis as a versatile building block for the creation of complex molecular structures. Its unique spirocyclic framework and iodine substituent make it valuable in cross-coupling reactions, enabling the formation of carbon-carbon bonds in pharmaceutical and agrochemical research. Additionally, it serves as a precursor in the development of functional materials, particularly in the design of polymers and liquid crystals. Its stability and reactivity also make it suitable for use in advanced chemical transformations, such as ring-opening reactions, to produce specialized intermediates for further applications.