This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of chiral compounds, which are crucial for creating enantiomerically pure drugs. Its anthracene moiety makes it valuable in fluorescence studies, where it can be used as a probe or marker due to its strong photophysical properties. Additionally, it finds application in asymmetric catalysis, aiding in the synthesis of complex molecules with high stereochemical control. Researchers also explore its potential in the design of novel bioactive molecules, particularly in targeting specific enzymes or receptors in medicinal chemistry.