This compound is primarily utilized in the field of asymmetric catalysis, where it serves as a chiral ligand in various organic synthesis reactions. Its unique spirobiindene structure provides excellent stereocontrol, making it particularly effective in enantioselective transformations such as hydrogenation, carbon-carbon bond formation, and other catalytic processes. Additionally, it finds application in the development of chiral drugs and fine chemicals, where high enantiomeric purity is crucial. Its stability and ability to induce high selectivity in reactions make it a valuable tool in pharmaceutical and chemical research.