This chemical is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal complexes. Its unique structure allows it to effectively induce chirality in various organic reactions, such as hydrogenation, carbon-carbon bond formation, and oxidation processes. It is also employed in the synthesis of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for producing drugs with high stereochemical precision. Additionally, it finds application in materials science for creating chiral polymers and advanced molecular frameworks with specific optical properties.