Used as a chiral building block in organic synthesis, particularly in the preparation of asymmetric catalysts and bioactive molecules. Its rigid cyclic structure with multiple stereocenters makes it valuable for inducing chirality in pharmaceutical intermediates. Commonly employed in the development of sensors and molecular recognition systems due to its ability to form stable complexes with diols and carbohydrates. Also serves as a protective scaffold in carbohydrate chemistry, enabling selective functionalization of hydroxyl groups in complex molecule synthesis.