This compound is widely utilized in the field of asymmetric synthesis, particularly as a chiral auxiliary or resolving agent. It plays a crucial role in the preparation of enantiomerically pure compounds, which are essential in the development of pharmaceuticals, agrochemicals, and fine chemicals. Its ability to induce chirality in reactions makes it valuable for creating specific stereoisomers with high precision. Additionally, it is employed in the synthesis of complex organic molecules, where controlling the stereochemistry is critical for achieving desired biological activity or material properties. Its application extends to catalysis, where it can be used to design chiral catalysts for enantioselective transformations.