This compound is primarily utilized in the field of asymmetric catalysis, where it serves as a chiral ligand in various organic reactions. Its unique structure allows it to effectively induce chirality in products, making it valuable for synthesizing enantiomerically pure compounds in pharmaceutical and fine chemical industries. Additionally, it is employed in the development of advanced materials, particularly in the creation of chiral polymers and liquid crystals, which are essential for optoelectronic devices and display technologies. Its high stability and selectivity also make it suitable for use in enantioselective sensors and separation processes.