This compound is widely utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions such as hydrogenation, where it helps induce enantioselectivity to produce chiral molecules. It is also employed in the development of pharmaceuticals, enabling the synthesis of enantiomerically pure drugs, which is crucial for their efficacy and safety. Additionally, it finds application in the preparation of chiral catalysts for organic transformations, enhancing the efficiency and selectivity of chemical processes. Its role in asymmetric catalysis is significant in academic research and industrial chemistry, contributing to advancements in stereoselective synthesis.