This compound is primarily used as a chiral ligand or catalyst in asymmetric synthesis. It facilitates enantioselective reactions, particularly in the formation of carbon-carbon bonds, where control over stereochemistry is crucial. Its rigid chiral backbone allows for high stereoselectivity in hydrogenation and transfer hydrogenation reactions, especially in the pharmaceutical industry for producing single-enantiomer drugs. It is also employed in the development of custom catalysts for fine chemical synthesis, where precise spatial arrangement influences reaction outcomes. Due to its lipophilic aromatic groups, it shows good solubility in organic solvents, making it suitable for homogeneous catalytic systems.