This chemical is primarily utilized in organic synthesis as a chiral auxiliary or catalyst. It is particularly effective in asymmetric synthesis, where it helps in the formation of enantiomerically pure compounds. The compound's structure allows it to induce chirality in reactions, making it valuable in the production of pharmaceuticals, where the correct stereochemistry is crucial for drug efficacy and safety. Additionally, it can be used in the synthesis of complex natural products and fine chemicals, where precise control over the stereochemical outcome is required. Its application extends to research and development in medicinal chemistry, where it aids in the creation of novel therapeutic agents with specific stereochemical properties.