This compound is primarily utilized in the field of organic synthesis, particularly as a catalyst or reagent in asymmetric reactions. Its unique structure allows it to facilitate the formation of complex molecular frameworks with high enantioselectivity, making it valuable in the production of pharmaceuticals and fine chemicals. Additionally, it is employed in the development of novel materials, where its properties can influence the stereochemistry and functionality of the final product. Its tetrafluoroborate counterion enhances its stability and solubility in various organic solvents, broadening its applicability in different reaction conditions.