This chemical is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal complexes. Its unique structure, featuring binaphthol and terphenyl groups, allows it to induce high enantioselectivity in various organic reactions, such as hydrogenation, oxidation, and carbon-carbon bond formation. It is also employed in the synthesis of pharmaceuticals, where precise chiral control is critical for producing active enantiomers. Additionally, it finds use in materials science for creating chiral polymers and liquid crystals, which are essential in advanced optical and electronic devices. Its stability and robust stereochemical properties make it a valuable tool in both academic research and industrial applications.