Used in organic synthesis as a chiral auxiliary and ligand in asymmetric catalysis. Its thiol group allows for conjugation with maleimides and other thiol-reactive compounds, making it valuable in the development of chiral sensors and enantioselective reagents. Commonly employed in studies requiring stereochemical control, particularly in pharmaceutical research for designing enantiomerically pure compounds. Also utilized in the preparation of self-assembled monolayers on gold surfaces for chiral recognition experiments.