This compound is widely utilized in asymmetric synthesis and catalysis, particularly in the production of chiral ligands and catalysts. It plays a significant role in enantioselective reactions, such as hydrogenation and carbon-carbon bond formation, which are critical in the synthesis of pharmaceuticals and fine chemicals. Its chiral structure makes it valuable for creating optically active compounds, enhancing the efficiency and selectivity of chemical processes. Additionally, it is employed in the development of chiral stationary phases for chromatographic separation of enantiomers, aiding in drug discovery and quality control in the pharmaceutical industry.