Used as a chiral derivatizing agent in asymmetric synthesis, particularly in the preparation of optically active phosphorus-containing compounds. Its rigid cyclic structure and well-defined stereochemistry make it valuable in catalysis and in the development of chiral ligands for enantioselective transformations. Commonly employed in pharmaceutical research to control stereochemistry during the synthesis of bioactive molecules. Also utilized in NMR spectroscopy for determining enantiomeric purity due to its ability to induce distinct chemical shifts in diastereomeric complexes.