When should I use launch control in my BMW M8?

I recently purchased a BMW M8 and I'm curious about when I should use launch control. Can you provide some insight on the benefits and potential drawbacks of using launch control?

Launch control is a feature that allows you to achieve maximum acceleration off the line. It's best used when you want to impress your friends or race on a track. However, keep in mind that frequent use can put extra strain on your car's drivetrain, resulting in potential maintenance costs down the line.