This compound is widely used as a chiral building block in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its stereochemistry makes it valuable for creating enantiomerically pure compounds, which are essential in drug development to ensure efficacy and reduce side effects. It is also employed as a ligand in asymmetric catalysis, enabling the synthesis of complex molecules with high enantioselectivity. Additionally, it serves as a precursor in the preparation of metal complexes used in various catalytic processes. Its stability and solubility in aqueous solutions further enhance its utility in industrial and research applications.