This compound is primarily utilized in the field of organic synthesis as a chiral catalyst or reagent. It plays a significant role in asymmetric synthesis, particularly in reactions where the formation of chiral centers is crucial. Its structure allows it to facilitate enantioselective transformations, making it valuable in the production of optically active compounds. These compounds are often intermediates in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, its stability and reactivity under various conditions make it a preferred choice for complex synthetic routes requiring high precision and control over stereochemistry.