Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of chiral molecules, which are crucial for creating enantiomerically pure drugs. Additionally, it finds application in catalysis, where it acts as a ligand in transition metal complexes, enhancing the efficiency and selectivity of various chemical reactions. Its role in asymmetric synthesis is notable, contributing to the production of compounds with high stereochemical precision.