This chemical is primarily utilized in asymmetric catalysis, particularly in enantioselective organic synthesis. It serves as a chiral ligand in transition metal-catalyzed reactions, enabling the production of optically active compounds with high stereochemical control. Its application is significant in the pharmaceutical industry for the synthesis of chiral drugs, where the precise configuration of molecules is critical for efficacy and safety. Additionally, it is employed in the development of advanced materials and fine chemicals, where its ability to induce asymmetry enhances the performance and properties of the final products.