This chemical is primarily utilized in the synthesis of chiral ligands and catalysts, which are essential in asymmetric synthesis. Its unique structure allows it to induce chirality in various chemical reactions, making it valuable in the production of pharmaceuticals where enantiomeric purity is critical. Additionally, it is employed in the development of advanced materials, particularly in the creation of chiral polymers and liquid crystals, which have applications in display technologies and optical devices. Its role in facilitating stereoselective reactions also makes it a key component in organic chemistry research and industrial processes.