This chemical is widely used as a chiral ligand in asymmetric catalysis, particularly in the synthesis of pharmaceuticals and fine chemicals. It facilitates the formation of chiral centers with high enantioselectivity, making it valuable in the production of enantiomerically pure compounds. It is often employed in metal-catalyzed reactions, such as hydrogenation, where it helps achieve precise control over stereochemistry. Additionally, it is utilized in organic synthesis for constructing complex molecules with specific spatial arrangements, which is critical in drug development and materials science. Its stability and efficiency in catalytic systems make it a preferred choice in industrial and academic research.