Used as a chiral ligand in asymmetric catalysis, particularly in enantioselective synthesis of pharmaceuticals and fine chemicals. Its structure allows for strong coordination with transition metals, making it effective in catalytic systems for reactions such as asymmetric epoxidation and Henry reactions. Also employed in the development of sensors for metal ion detection due to its selective binding properties. Additionally, it serves as a building block in the synthesis of multifunctional chelating agents used in medicinal chemistry and environmental applications.