This chemical is primarily utilized in asymmetric synthesis as a chiral ligand or catalyst. It plays a significant role in enantioselective reactions, particularly in the production of pharmaceuticals and fine chemicals where high enantiomeric purity is essential. Its application extends to organic transformations such as hydrogenation, oxidation, and carbon-carbon bond formation, where it helps achieve high selectivity and efficiency. Additionally, it is employed in the development of chiral materials and sensors, contributing to advancements in materials science and analytical chemistry.