This compound is primarily utilized in the field of organic synthesis and catalysis. It serves as a chiral catalyst in asymmetric reactions, enabling the production of enantiomerically pure compounds, which are crucial in pharmaceutical manufacturing. Its structure allows it to effectively induce chirality in substrates, making it valuable for synthesizing complex molecules with high stereoselectivity. Additionally, it may be employed in the development of novel therapeutic agents due to its ability to interact with biological targets in a stereospecific manner.