This compound is primarily utilized in the field of asymmetric catalysis, particularly in the synthesis of chiral molecules. Its structure makes it an effective ligand in transition metal-catalyzed reactions, such as hydrogenation and carbon-carbon bond-forming processes. It is often employed in the pharmaceutical industry to produce enantiomerically pure compounds, which are crucial for the development of active pharmaceutical ingredients (APIs) with high specificity and reduced side effects. Additionally, its use extends to fine chemical synthesis, where it aids in creating complex organic molecules with precise stereochemistry.