This chemical 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-forming reactions, which are crucial in the production of pharmaceuticals and fine chemicals. Its ability to induce chirality in products makes it valuable for creating optically active compounds with high precision. Additionally, it is employed in the development of catalysts for organic synthesis, enhancing the efficiency and selectivity of complex chemical processes.