Used in asymmetric synthesis as a chiral ligand or catalyst, enabling the production of enantiomerically pure compounds in pharmaceutical and fine chemical industries. It plays a role in facilitating stereoselective reactions, such as hydrogenation or carbon-carbon bond formation, which are critical in drug development. Its binaphthyl backbone provides structural rigidity, enhancing selectivity in catalytic processes. Additionally, it is employed in the synthesis of complex natural products and bioactive molecules, contributing to advancements in medicinal chemistry.