This chemical is primarily utilized in the field of organic synthesis and materials science due to its unique structural properties. It serves as a key intermediate in the development of chiral ligands, which are crucial in asymmetric catalysis. These catalysts are employed in the production of pharmaceuticals and fine chemicals, enabling the synthesis of enantiomerically pure compounds. Additionally, its rigid and planar structure makes it suitable for use in the design of organic semiconductors and optoelectronic materials, contributing to advancements in organic light-emitting diodes (OLEDs) and photovoltaic devices. Its application in supramolecular chemistry is also notable, where it aids in the creation of complex molecular assemblies and host-guest systems.