This chemical is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal complexes. Its unique structure, featuring a binaphthalene core with methoxy and bromo substituents, makes it effective in inducing chirality in catalytic reactions. It is often employed in enantioselective transformations, such as hydrogenation, oxidation, and carbon-carbon bond-forming reactions, which are crucial in the synthesis of pharmaceuticals and fine chemicals. Additionally, it serves as a building block for constructing more complex chiral frameworks used in advanced material science and organic electronics.