This compound is primarily utilized in asymmetric synthesis as a chiral ligand or catalyst. Its unique structure, featuring trifluoromethyl groups and a rigid binaphthol backbone, makes it highly effective in enantioselective reactions, particularly in the formation of chiral centers in organic molecules. It is often employed in transition-metal-catalyzed processes, such as hydrogenation, carbon-carbon bond formation, and other transformations requiring high enantiomeric excess. Additionally, its electron-withdrawing trifluoromethyl groups enhance its stability and reactivity in challenging chemical environments, making it a valuable tool in pharmaceutical and fine chemical synthesis.