This compound is primarily utilized in the field of organic synthesis, particularly as a chiral catalyst or reagent in asymmetric reactions. Its unique structure allows it to facilitate the formation of enantiomerically pure compounds, which are crucial in the development of pharmaceuticals, agrochemicals, and fine chemicals. The compound's ability to induce high enantioselectivity makes it valuable in synthesizing complex molecules with specific stereochemical requirements. Additionally, it may be employed in research settings to explore new methodologies in catalytic processes, contributing to advancements in synthetic chemistry.