Used as a chiral building block in asymmetric synthesis, particularly in the preparation of ligands for catalytic reactions. Serves as a precursor in the synthesis of binaphthyl-based polymers with potential applications in optoelectronic devices. Employed in the development of fluorescent sensors due to its inherent chirality and ability to form stable complexes with metal ions. Also utilized in the fabrication of nonlinear optical materials and as a dopant in organic semiconductors for enhanced charge transport properties.