This compound is widely used as a chiral resolving agent in the synthesis of enantiomerically pure compounds, particularly in the pharmaceutical industry. It is effective in separating racemic mixtures into their individual enantiomers, which is crucial for producing drugs with specific desired activities. Additionally, it serves as a ligand in asymmetric catalysis, enhancing the efficiency and selectivity of various chemical reactions. Its application extends to the development of advanced materials, where it aids in the creation of chiral polymers and complexes with unique properties.