Widely used as a chiral ligand in asymmetric catalysis, this compound plays a key role in enantioselective organic transformations. It forms stable complexes with transition metals such as rhodium, ruthenium, and iridium, which are employed in hydrogenation reactions of prochiral substrates like ketones, alkenes, and imines. Due to its rigid aromatic backbone and well-defined chiral environment, it helps achieve high enantiomeric excess in the synthesis of pharmaceutical intermediates and fine chemicals. Its effectiveness in asymmetric synthesis makes it valuable in academic research and industrial drug development.