This compound is primarily utilized in asymmetric catalysis, particularly in enantioselective hydrogenation reactions. It serves as a chiral ligand, enabling the synthesis of optically active compounds, which are crucial in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its unique structure enhances selectivity and efficiency in catalytic processes, making it valuable for creating complex molecules with high enantiomeric purity. Additionally, it is employed in the development of advanced materials and in research focused on exploring new catalytic mechanisms.