Used as a chiral ligand in asymmetric synthesis, it plays a crucial role in catalyzing reactions to produce enantiomerically pure compounds, which are essential in pharmaceuticals. It is also employed in the preparation of complex organic molecules, aiding in the development of drugs and fine chemicals. Additionally, it serves as a building block in the synthesis of polymers and coordination complexes, contributing to materials science and catalysis research. Its ability to form stable chelates with metal ions makes it valuable in metal-catalyzed reactions and industrial processes.