This compound is widely utilized as a chiral auxiliary in asymmetric synthesis, particularly in organic chemistry. It plays a crucial role in controlling stereochemistry during the formation of carbon-carbon and carbon-heteroatom bonds. Its application is prominent in the synthesis of pharmaceuticals, where it helps in producing enantiomerically pure compounds, ensuring high specificity and efficacy of drugs. Additionally, it is used in the preparation of complex natural products and fine chemicals, where precise stereochemical outcomes are essential. Its stability and ease of removal after the reaction make it a preferred choice in synthetic organic methodologies.