This chemical is primarily utilized in the field of organic synthesis, particularly in the development of chiral catalysts. Its unique structure makes it highly effective in asymmetric catalysis, enabling the production of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs). Additionally, it finds application in the preparation of advanced materials, where its chiral properties can influence the stereochemistry of polymers and other complex molecules. Its role in facilitating stereoselective reactions makes it valuable in research and industrial processes aimed at creating high-purity, optically active substances.