This chemical is primarily utilized in the field of organic synthesis, where it serves as a chiral building block for the construction of complex molecular architectures. Its unique structure makes it valuable in the development of asymmetric catalysts, which are crucial for producing enantiomerically pure compounds in pharmaceutical manufacturing. Additionally, it finds application in material science, particularly in the design of advanced organic materials with specific optical properties. The compound's rigid and planar structure also contributes to its use in the study of molecular recognition and self-assembly processes.