This compound is widely used in asymmetric synthesis and catalysis, particularly in the preparation of chiral ligands for transition metal complexes. It plays a crucial role in enantioselective reactions, such as hydrogenation and carbon-carbon bond formation, which are essential in the production of pharmaceuticals and fine chemicals. Additionally, it serves as a key intermediate in the synthesis of biologically active molecules, including inhibitors and receptor antagonists, due to its ability to induce chirality and control stereochemistry in complex organic transformations. Its application extends to the development of advanced materials and coordination polymers, where its structural properties contribute to the design of functional materials with specific optical or catalytic properties.