This chemical is primarily utilized in the field of asymmetric catalysis, particularly in enantioselective synthesis. Its unique structure makes it highly effective as a chiral ligand in transition metal-catalyzed reactions, enabling the production of optically active compounds with high stereochemical purity. It is often employed in the synthesis of pharmaceuticals, where precise control over molecular chirality is crucial for drug efficacy and safety. Additionally, it finds application in the development of advanced materials, such as liquid crystals and polymers, where its stereochemical properties can influence material performance. Its role in facilitating complex organic transformations underscores its importance in modern synthetic chemistry.