This chemical is widely used as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions such as hydrogenation, carbon-carbon bond formation, and oxidation processes. Its unique binaphthyl structure and nitro groups enhance its ability to induce high enantioselectivity, making it valuable in the production of pharmaceuticals and fine chemicals. Additionally, it serves as a key component in the development of chiral catalysts for organic transformations, enabling the synthesis of complex molecules with precise stereochemistry. Its application extends to the preparation of optically active compounds, which are essential in drug development and material science.