This compound is primarily utilized in the field of asymmetric catalysis, particularly in enantioselective synthesis. Its unique structure makes it an effective chiral ligand, enabling the formation of chiral centers in organic molecules with high selectivity. It is often employed in metal-catalyzed reactions, such as hydrogenation, where it helps produce optically active compounds. Additionally, it finds application in the synthesis of pharmaceuticals and fine chemicals, where precise control over stereochemistry is crucial. Its stability and ability to induce high enantiomeric excess make it a valuable tool in the development of chiral drugs and intermediates.