This chemical is primarily utilized in the field of asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal complexes. Its unique binaphthalene structure, combined with pyridine groups, makes it highly effective in facilitating enantioselective reactions, such as hydrogenation, carbon-carbon bond formation, and oxidation processes. These reactions are crucial in the production of pharmaceuticals, agrochemicals, and fine chemicals, where achieving high enantiomeric purity is essential. Additionally, its dichloro and diethoxy substituents enhance its stability and reactivity, making it a valuable component in advanced catalytic systems for organic synthesis.