This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in organic reactions where enantioselectivity is crucial. It serves as a chiral catalyst or ligand, enabling the production of optically active compounds with high stereochemical control. Its application is significant in the pharmaceutical industry for synthesizing chiral drugs, where the specific spatial arrangement of atoms can drastically impact the drug's efficacy and safety. Additionally, it is employed in academic research to explore novel catalytic processes and develop new methodologies for asymmetric transformations. Its robust structure and stability make it suitable for use in various reaction conditions, including those requiring elevated temperatures or harsh environments.