This compound is primarily utilized in asymmetric synthesis as a chiral ligand. It plays a crucial role in facilitating enantioselective reactions, particularly in the formation of carbon-carbon and carbon-heteroatom bonds. Its application is significant in the pharmaceutical industry, where it aids in the production of chiral drugs, ensuring high enantiomeric purity. Additionally, it is employed in organic synthesis to achieve high selectivity and yield in complex molecular transformations, making it a valuable tool in the development of advanced materials and fine chemicals.