Widely used as a chiral derivatizing agent in asymmetric synthesis, this compound plays a key role in the preparation of chiral ligands and catalysts. Its rigid binaphthyl backbone provides excellent stereocontrol, making it valuable in enantioselective transformations such as C–C bond-forming reactions and kinetic resolutions. It is particularly effective in the development of organocatalysts and in coordination with metals for use in asymmetric catalysis. Due to its bulky bis(1-methylethyl)amino carbonyl group, it enhances selectivity and stability in catalytic systems. Commonly employed in pharmaceutical and fine chemical industries for synthesizing enantiomerically pure compounds.