This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure makes it highly effective in facilitating enantioselective reactions, which are crucial for producing chiral molecules with high optical purity. It is often employed in the synthesis of pharmaceuticals, where the precise control of stereochemistry is essential for the efficacy and safety of the drug. Additionally, it finds application in the development of advanced materials, such as chiral polymers and liquid crystals, which are used in displays and other high-tech devices. Its ability to induce chirality in complex molecules also makes it valuable in academic research for studying stereochemical outcomes in various organic transformations.