This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in enantioselective reactions. It serves as a chiral ligand in transition metal-catalyzed processes, enabling the production of optically active compounds with high selectivity. Its application is significant in the pharmaceutical industry, where it aids in the synthesis of chiral drugs and intermediates. Additionally, it is employed in organic chemistry research to develop new methodologies for stereocontrolled transformations. The compound's ability to induce chirality makes it valuable for creating complex molecular structures with precise stereochemistry.