Used primarily in organic synthesis, this compound serves as a chiral building block for creating complex molecules. Its anthracene group makes it valuable in the development of fluorescent probes and sensors, particularly in biochemical studies to track molecular interactions. Additionally, it is employed in the preparation of pharmaceuticals, where its chiral nature is crucial for producing enantiomerically pure drugs. The compound also finds use in material science, contributing to the creation of organic semiconductors and light-emitting diodes (LEDs) due to its ability to facilitate electron transport and luminescence.