This compound is primarily utilized in the field of organic synthesis, particularly as a chiral auxiliary or catalyst in asymmetric reactions. It plays a significant role in the production of enantiomerically pure compounds, which are crucial in the development of pharmaceuticals, agrochemicals, and fine chemicals. Its structure allows it to induce chirality in reactions, making it valuable for synthesizing specific stereoisomers with high selectivity. Additionally, it is employed in the preparation of biologically active molecules, where precise stereochemistry is essential for efficacy and safety. Researchers also use it in the study of reaction mechanisms and the development of new synthetic methodologies.