This chemical is widely used as a chiral ligand in asymmetric catalysis, particularly in enantioselective synthesis. It plays a crucial role in facilitating reactions such as hydrogenation, carbon-carbon bond formation, and cycloaddition, where high enantiomeric purity is required. Its application is prominent in the pharmaceutical industry for the production of chiral drugs, ensuring the desired stereochemistry in the final product. Additionally, it is utilized in the development of advanced materials and coordination polymers due to its ability to form stable complexes with metal ions. Its structural properties make it a valuable tool in organic synthesis and materials science.