This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure allows it to effectively coordinate with metal centers, enhancing the enantioselectivity and efficiency of catalytic reactions. This makes it valuable in the production of pharmaceuticals, where the creation of specific enantiomers is crucial for the desired biological activity. Additionally, it is employed in the development of advanced materials, where its ability to induce chirality can lead to the formation of novel polymers and other functional materials with tailored properties. Its application in these areas underscores its importance in both academic research and industrial processes.