This compound is primarily utilized in asymmetric synthesis, particularly as a chiral ligand in catalytic reactions. It is effective in facilitating enantioselective transformations, such as hydrogenation and carbon-carbon bond formation, which are crucial in the production of pharmaceuticals and fine chemicals. Its structure allows for high stereocontrol, making it valuable in the synthesis of complex molecules with specific chiral configurations. Additionally, it is employed in the development of advanced materials where precise stereochemistry is required.