This chemical is primarily utilized in advanced organic synthesis and materials science, particularly in the development of chiral catalysts. Its unique structure makes it effective in asymmetric catalysis, enabling the production of enantiomerically pure compounds, which are crucial in pharmaceuticals and fine chemicals. Additionally, it finds application in the creation of specialized polymers and ligands for coordination chemistry, enhancing the efficiency and selectivity of various chemical reactions. Its stability and reactivity also make it suitable for use in high-performance materials and electronic applications.