This chemical is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It is often employed in the formation of chiral catalysts for hydrogenation, a process widely used in the pharmaceutical industry to produce enantiomerically pure compounds. Additionally, it serves as a building block in the synthesis of complex organic molecules, aiding in the development of drugs and fine chemicals. Its structural properties make it valuable in coordination chemistry, where it helps stabilize metal complexes used in various catalytic processes.