This compound is primarily utilized in asymmetric synthesis, particularly as a chiral ligand in catalytic reactions. It plays a significant role in enantioselective transformations, such as hydrogenation and carbon-carbon bond formation, where high selectivity is crucial. Its application extends to the pharmaceutical industry, where it aids in the production of chiral drugs, ensuring the desired stereochemistry is achieved. Additionally, it is employed in organic synthesis to create complex molecules with specific spatial arrangements, enhancing the efficiency and precision of chemical processes.