This chemical is widely used as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It plays a significant role in the production of pharmaceuticals, helping to create compounds with specific stereochemistry, which is essential for their biological activity. Additionally, it is employed in the synthesis of fine chemicals and agrochemicals, where precise control over molecular structure is required. Its ability to form stable complexes with transition metals makes it valuable in various catalytic processes, including hydrogenation and carbon-carbon bond formation.