This compound is primarily used as a chiral catalyst or resolving agent in asymmetric synthesis, particularly in the pharmaceutical industry. It facilitates the production of enantiomerically pure compounds, which is crucial for developing drugs with specific biological activities. Additionally, it is employed in organic synthesis to induce stereoselectivity in reactions, such as hydrogenation or alkylation processes, ensuring the formation of desired stereoisomers. Its application extends to research laboratories for studying chiral induction and optimizing synthetic pathways for complex molecules.