This compound is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its highly specific structure allows it to induce chirality in the synthesis of complex organic molecules, making it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals. It is often employed in asymmetric hydrogenation, where it helps create enantiomerically pure compounds, crucial for drug development and other applications requiring high stereochemical control. Its stability and efficiency in catalytic systems make it a preferred choice for industrial and academic research in organic synthesis.