This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. It plays a crucial role in facilitating enantioselective reactions, which are essential for producing specific enantiomers of pharmaceutical compounds and fine chemicals. Its unique structure allows it to induce high selectivity in reactions such as hydrogenation, oxidation, and carbon-carbon bond formation. Additionally, it is employed in the development of advanced materials, including liquid crystals and polymers, where its rigid and aromatic framework contributes to desired physical properties.