This chemical is primarily utilized as a chiral Brønsted acid catalyst in asymmetric synthesis, where it plays a critical role in facilitating enantioselective reactions. Its unique structure provides the necessary rigidity, chirality, and acidity to promote reactions such as Pictet-Spengler cyclizations, Friedel-Crafts alkylations, and others with high enantiomeric purity. This is particularly valuable in the pharmaceutical industry for the synthesis of enantiomerically pure drugs, ensuring higher efficacy and reduced side effects. Additionally, it is employed in the development of advanced materials and catalysts for organic transformations, contributing to more efficient and sustainable chemical processes.