This compound is primarily utilized in the synthesis of chiral ligands and catalysts, which are essential in asymmetric synthesis. Its structure makes it valuable for creating enantioselective reactions, particularly in the production of pharmaceuticals where specific stereochemistry is crucial. It is also employed in the development of advanced materials, such as liquid crystals, due to its ability to induce specific molecular orientations. Additionally, it serves as a key intermediate in organic synthesis, enabling the construction of complex molecules with high precision. Its applications extend to research in medicinal chemistry, where it aids in the design of drugs targeting specific biological pathways.