This chemical is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It plays a significant role in the development of pharmaceuticals, agrochemicals, and fine chemicals by enabling the production of enantiomerically pure compounds. Its unique structure allows it to effectively coordinate with transition metals, enhancing the efficiency and selectivity of catalytic processes such as hydrogenation, hydroformylation, and carbon-carbon bond-forming reactions. Additionally, it is employed in the synthesis of complex organic molecules, contributing to advancements in medicinal chemistry and material science.