This compound is primarily utilized in the field of organic synthesis as a chiral catalyst. Its unique structure allows it to facilitate asymmetric reactions, which are crucial for producing enantiomerically pure compounds. These pure enantiomers are essential in the pharmaceutical industry for developing drugs with specific biological activities and reduced side effects. Additionally, it finds application in material science, where it aids in the synthesis of advanced materials with tailored optical properties. Its role in these areas underscores its importance in creating high-precision chemical products.