This compound is primarily utilized in the field of asymmetric synthesis, where it serves as a chiral ligand in catalytic reactions. Its unique structure allows it to effectively induce chirality in the formation of various organic molecules, making it valuable in the production of pharmaceuticals and fine chemicals. Additionally, it is employed in the development of advanced materials, particularly in the synthesis of chiral polymers and complexes. Its application extends to research in stereoselective transformations, aiding in the creation of enantiomerically pure compounds essential for drug development and material science.