This chemical is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where high enantioselectivity is required. It is often employed in transition metal-catalyzed processes, such as hydrogenation, carbon-carbon bond formation, and other stereoselective transformations. Its unique binaphthyl structure and tert-butylphenyl groups enhance its ability to induce chiral environments, making it valuable in the production of pharmaceuticals, fine chemicals, and agrochemicals where specific stereochemistry is critical. Additionally, it is used in the development of chiral catalysts for organic synthesis, contributing to advancements in the field of asymmetric catalysis.