This compound 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 organic transformations, such as hydrogenation, where it helps in producing enantiomerically pure compounds. Its application is significant in the pharmaceutical industry for the synthesis of chiral drugs, ensuring high stereochemical control. Additionally, it is used in academic research to develop new methodologies in asymmetric catalysis, contributing to advancements in synthetic organic chemistry.