Used as a chiral ligand in asymmetric catalysis, particularly in enantioselective organic transformations such as allylic alkylation, Diels-Alder reactions, and conjugate additions. Its rigid binaphthyl backbone provides excellent stereocontrol, making it valuable in the synthesis of optically active pharmaceuticals and fine chemicals. Often employed in combination with metals like titanium, aluminum, or zinc to form catalytically active complexes. Also applied in chiral recognition studies and as a building block for chiral sensors or materials requiring axial chirality.