This compound is primarily used as a chiral resolving agent in asymmetric synthesis. It is effective in the separation of enantiomers, particularly in the pharmaceutical industry, where the production of single-enantiomer drugs is crucial for efficacy and safety. Additionally, it serves as a chiral shift reagent in nuclear magnetic resonance (NMR) spectroscopy, aiding in the determination of the enantiomeric purity of compounds. Its application extends to the field of organic chemistry, where it is employed in the synthesis of complex molecules with high stereochemical control.