This compound is widely used as a chiral auxiliary in asymmetric synthesis, particularly in organic chemistry. It helps in controlling the stereochemistry of reactions, enabling the production of enantiomerically pure compounds. It is often employed in the synthesis of pharmaceuticals, where precise stereochemistry is crucial for the efficacy and safety of drugs. Additionally, it finds application in the preparation of complex natural products and fine chemicals, where high enantioselectivity is required. Its stability and ease of removal after the reaction make it a valuable tool in synthetic organic chemistry.