This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the preparation of complex molecular structures. Its unique structure allows it to act as a ligand in catalytic processes, particularly in asymmetric synthesis, enhancing the efficiency and selectivity of reactions. Additionally, it is employed in the development of advanced materials, such as polymers and coatings, where its properties contribute to improved stability and performance. In pharmaceutical research, it is explored for its potential in creating novel drug candidates, leveraging its ability to interact with biological targets. Its application in analytical chemistry is also notable, where it aids in the detection and quantification of specific compounds due to its distinctive chemical behavior.