Used extensively in asymmetric synthesis, this compound serves as a chiral ligand in catalytic reactions, particularly in the enantioselective addition of organozinc reagents to aldehydes. Its rigid structure and large aromatic groups enhance stereocontrol, making it valuable in producing chiral alcohols with high enantiomeric excess. Additionally, it finds application in the development of chiral materials for organic electronics, where its unique optical properties are leveraged in the design of light-emitting diodes (LEDs) and liquid crystal displays (LCDs). The compound's ability to induce chirality in supramolecular assemblies also makes it a candidate for advanced materials research.