This compound is primarily utilized in asymmetric synthesis as a chiral ligand or catalyst. It plays a significant role in enantioselective reactions, particularly in the formation of carbon-carbon and carbon-heteroatom bonds, which are crucial in the production of pharmaceuticals and fine chemicals. Its ability to induce high enantiomeric excess makes it valuable in the synthesis of complex molecules with specific stereochemical requirements. Additionally, it is employed in the development of agrochemicals and other biologically active compounds where chirality is a critical factor.