This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its unique structure allows it to coordinate with metals like rhodium or iridium, enabling the synthesis of enantiomerically pure compounds, which are crucial in pharmaceuticals and fine chemicals. It is often employed in hydrogenation reactions, where it helps achieve high enantioselectivity, producing chiral molecules with specific configurations. Additionally, it finds application in the development of advanced materials and organic synthesis, where precise control over stereochemistry is essential. Its effectiveness in asymmetric transformations makes it a valuable tool in research and industrial processes aimed at producing optically active compounds.