This compound is primarily utilized in asymmetric synthesis as a chiral phase-transfer catalyst. It facilitates enantioselective reactions, particularly in the formation of carbon-carbon and carbon-heteroatom bonds, which are crucial in the production of pharmaceuticals and fine chemicals. Its application is especially notable in the alkylation of carbonyl compounds, where it helps achieve high enantiomeric purity. Additionally, it is employed in the synthesis of complex organic molecules, including natural products and bioactive compounds, due to its ability to induce chirality effectively. The compound's stability and efficiency make it a valuable tool in modern organic chemistry research and industrial processes.