This chemical is primarily utilized in the field of organic synthesis, particularly in the development of complex molecular structures. Its unique structure makes it a valuable intermediate in the synthesis of chiral compounds, which are essential in the production of pharmaceuticals and agrochemicals. The compound's ability to act as a ligand or catalyst in asymmetric synthesis is particularly noteworthy, enabling the creation of enantiomerically pure substances. This is crucial in the development of drugs, where the specific spatial arrangement of atoms can significantly impact efficacy and safety. Additionally, its application in research and development for new chemical entities highlights its importance in advancing medicinal chemistry and material science.