This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of complex organic compounds. Its unique structure makes it valuable in the development of chiral catalysts, which are essential for asymmetric synthesis in pharmaceutical manufacturing. Additionally, it is employed in the creation of advanced materials, particularly in the design of polymers with specific optical properties. The compound's rigid framework and stereochemical features also make it a candidate for use in liquid crystal displays (LCDs) and other electronic devices requiring precise molecular alignment.