Used as a chiral auxiliary in asymmetric synthesis, enabling the production of enantiomerically pure compounds in pharmaceuticals. It is particularly effective in catalytic reactions, such as hydrogenation and cycloaddition, where high enantioselectivity is crucial. Its binaphthyl structure provides a rigid framework that enhances stereochemical control, making it valuable in the synthesis of complex organic molecules. Additionally, it serves as a key intermediate in the preparation of ligands for asymmetric catalysis, contributing to the development of novel drugs and fine chemicals.