Widely used as a chiral ligand in asymmetric catalysis, this compound plays a key role in enantioselective organic transformations. It forms complexes with transition metals such as rhodium, ruthenium, and iridium, which are highly effective in asymmetric hydrogenation reactions. These reactions are crucial in the pharmaceutical industry for producing single-enantiomer compounds, especially in the synthesis of chiral drugs where stereochemistry impacts biological activity. Its rigid aromatic backbone and well-defined chiral environment enhance stereoselectivity, making it valuable in fine chemical synthesis and academic research focused on developing new catalytic methods.