This compound is primarily utilized in the synthesis of chiral compounds, serving as a crucial building block in the production of pharmaceuticals. It is often employed in asymmetric synthesis to create enantiomerically pure drugs, particularly in the development of active pharmaceutical ingredients (APIs) for treating various medical conditions. Additionally, it finds application in the preparation of ligands for catalytic systems, enhancing the efficiency and selectivity of chemical reactions. Its role in organic synthesis also extends to the creation of fine chemicals and intermediates used in agrochemicals and specialty materials.