This chemical is widely used as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It plays a significant role in the production of pharmaceuticals, helping to create specific enantiomers of drug molecules, which can improve efficacy and reduce side effects. Additionally, it is employed in the synthesis of fine chemicals and agrochemicals, where precise control over stereochemistry is essential. Its application extends to organic transformations such as hydrogenation, cyclopropanation, and other metal-catalyzed reactions, making it a valuable tool in synthetic organic chemistry.