This chemical is primarily used in asymmetric synthesis and catalysis, particularly in enantioselective reactions. Its unique structure makes it effective as a chiral ligand in transition metal-catalyzed processes, such as hydrogenation, oxidation, and carbon-carbon bond formation. It is also employed in the development of chiral materials and sensors, where its optical properties and stereochemical stability are advantageous. Additionally, it finds application in organic electronics and photochemistry due to its extended aromatic system, which enhances light absorption and charge transfer properties.