This compound is primarily used as a chiral auxiliary in asymmetric synthesis, particularly in the formation of enantiomerically pure compounds. It is employed in the synthesis of pharmaceuticals and fine chemicals where the control of stereochemistry is crucial. The compound's ability to induce chirality in reactions makes it valuable in producing optically active intermediates. Additionally, it is utilized in the preparation of chiral sulfoxides, which are important in medicinal chemistry and drug development. Its application extends to catalysis, where it aids in achieving high enantioselectivity in various organic transformations.