Used in organic synthesis, particularly in the development of chiral compounds for pharmaceuticals. It serves as a building block for creating complex molecules with specific stereochemistry, essential in drug design. Applied in asymmetric catalysis to produce enantiomerically pure substances, which are critical in active pharmaceutical ingredients. Also utilized in research for studying molecular interactions and binding properties in biological systems, aiding in the discovery of new therapeutic agents. Its anthryl group makes it useful in fluorescence studies for probing molecular environments and interactions.