1,1'-Binaphthyl-2,2'-diyl hydrogenphosphate is primarily utilized as a chiral resolving agent in the field of asymmetric synthesis. It is often employed to separate enantiomers of chiral compounds, particularly in the pharmaceutical industry where the purity of a specific enantiomer is crucial for drug efficacy and safety. The compound's ability to form diastereomeric complexes with chiral molecules makes it valuable in chromatographic techniques, such as high-performance liquid chromatography (HPLC), for the resolution of racemic mixtures. Additionally, it serves as a precursor or intermediate in the synthesis of more complex chiral ligands and catalysts used in enantioselective reactions, contributing to the development of optically active compounds in organic chemistry.