This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in enantioselective reactions. It serves as a chiral catalyst or ligand, enabling the formation of specific stereoisomers in organic synthesis. Its application is prominent in the pharmaceutical industry, where it aids in the production of enantiomerically pure drugs, ensuring higher efficacy and reduced side effects. Additionally, it is employed in fine chemical manufacturing for creating complex molecules with precise stereochemistry. Its stability and selectivity make it a valuable tool in advanced synthetic organic chemistry.