Used as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It is employed in the preparation of pharmaceuticals to ensure the production of specific enantiomers, which can significantly impact the efficacy and safety of drugs. Additionally, it serves as a building block in organic synthesis for creating complex molecular structures with high precision. Its bicyclic structure and stereochemistry make it valuable in designing catalysts for various chemical transformations, including hydrogenation and carbon-carbon bond formation.