This compound is primarily utilized in asymmetric synthesis as a chiral phase-transfer catalyst. It facilitates enantioselective reactions, particularly in the formation of carbon-carbon and carbon-heteroatom bonds. Its application is significant in the production of pharmaceuticals, where it helps in achieving high enantiomeric purity of active ingredients. The compound is also employed in organic synthesis to enhance the efficiency and selectivity of various chemical transformations, making it a valuable tool in the development of complex molecules with specific stereochemical requirements.