This compound is primarily utilized in the field of asymmetric synthesis, where it serves as a chiral ligand or catalyst in various organic reactions. Its ability to induce chirality makes it valuable in the production of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for developing drugs with specific biological activities. Additionally, it is employed in the synthesis of complex molecules, particularly in the preparation of fine chemicals and intermediates that require high stereochemical control. Its stability and effectiveness in catalytic processes also make it a preferred choice in academic and industrial research for exploring new synthetic methodologies.