This chemical is widely used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It plays a crucial role in enantioselective synthesis, enabling the production of optically active compounds in pharmaceuticals and fine chemicals. Its application is prominent in hydrogenation, carbon-carbon bond formation, and other key transformations where high enantiomeric purity is required. The compound's effectiveness stems from its ability to coordinate with metal centers and induce chirality, making it valuable in the development of drugs, agrochemicals, and advanced materials.