Spring Boot is utilized in a tutorial to create a straightforward RESTful API simulating a credit score rating, demonstrating the fundamentals of REST API development using Java and Spring Boot. The API endpoint allows users to retrieve a randomly generated credit score without connecting to real backend systems. The tutorial guides users through setting up the project with Spring Initializr, coding the APIController class to handle requests, and testing the API using Postman. The example serves as a foundation for building more complex APIs, with suggestions for enhancing security, integrating with an API gateway, and considering API monetization and analytics using platforms like Moesif for further development and optimization.