This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure makes it effective in facilitating enantioselective reactions, which are crucial for producing optically active compounds. These compounds are often used in the pharmaceutical industry to synthesize drugs with specific stereochemical requirements, ensuring higher efficacy and reduced side effects. Additionally, it finds application in the development of advanced materials, where its chiral properties can influence the molecular architecture of polymers and other complex structures.