This chemical is primarily utilized as a chiral catalyst in asymmetric synthesis, particularly in enantioselective reactions. It plays a significant role in the production of optically active compounds, which are crucial in the pharmaceutical industry for developing drugs with specific stereochemistry. Additionally, it is employed in organic synthesis to facilitate the formation of chiral intermediates, enhancing the efficiency and selectivity of complex chemical processes. Its stability and reactivity make it a valuable component in advanced research and industrial applications where precise control over molecular structure is required.