This compound is primarily utilized in the field of organic synthesis as a chiral catalyst. It plays a significant role in asymmetric synthesis, particularly in reactions where the formation of chiral centers is crucial. The compound's structure allows it to effectively induce enantioselectivity, making it valuable in the production of pharmaceuticals and fine chemicals where specific stereochemistry is required. Additionally, it is employed in the development of novel synthetic methodologies, contributing to advancements in catalytic processes and the creation of complex molecular architectures. Its stability and reactivity under various conditions make it a versatile tool in modern synthetic chemistry.