This chemical is primarily used as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It is effective in facilitating the formation of chiral centers in organic molecules, making it valuable in the production of pharmaceuticals and fine chemicals. Additionally, it serves as a building block for more complex chiral catalysts and materials. Its ability to induce high enantiomeric excess in reactions makes it a preferred choice in the development of drugs and other biologically active compounds. Furthermore, it is utilized in the development of specialty chemicals with unique properties, such as fluorescent materials and compounds for electronic devices like OLEDs, due to its easily modifiable structure and interesting optical properties.