This chemical is primarily utilized in asymmetric synthesis, where it serves as a chiral auxiliary or catalyst. It is particularly effective in inducing enantioselectivity in various organic reactions, such as the formation of chiral amines or alcohols. The compound's rigid camphor-based structure provides a well-defined chiral environment, making it valuable in the synthesis of pharmaceuticals and fine chemicals. Additionally, it is employed in the preparation of enantiomerically pure compounds, which are crucial in drug development and material science. Its stability and ease of handling further enhance its practicality in laboratory and industrial settings.