This chemical is primarily utilized in asymmetric synthesis, particularly as a chiral ligand or catalyst in organic reactions. Its unique structure allows it to induce chirality in products, making it valuable in the production of enantiomerically pure compounds. It is often employed in asymmetric hydrogenation, carbon-carbon bond formation, and other stereoselective transformations. Additionally, it finds applications in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals where high enantiomeric purity is crucial. Its role in facilitating efficient and selective reactions makes it a key component in advanced synthetic chemistry.