This chemical is primarily utilized in advanced organic synthesis, particularly in the development of specialized catalysts. Its unique structure makes it highly effective in asymmetric catalysis, enabling the production of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for creating drugs with high specificity and reduced side effects. Additionally, it finds application in material science, where it is used to synthesize complex polymers and advanced materials with tailored properties. Its role in facilitating challenging chemical transformations underscores its importance in both academic research and industrial processes.