This chemical is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal complexes. It is employed in enantioselective reactions, such as hydrogenation, carbon-carbon bond formation, and other transformations where high stereochemical control is required. The compound's rigid binaphthalene backbone and chiral diamine functionality make it effective in inducing chirality in products, which is crucial in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, it serves as a building block for designing advanced materials and catalysts with specific stereochemical properties.