This compound is primarily utilized in the field of asymmetric catalysis, particularly in enantioselective synthesis. Its unique chiral spirobiindane structure makes it highly effective as a ligand in transition metal-catalyzed reactions, enabling the production of enantiomerically pure compounds. It is often employed in the pharmaceutical industry for the synthesis of chiral drugs, where the specific spatial arrangement of molecules is crucial for biological activity. Additionally, it finds application in the development of advanced materials, such as liquid crystals and polymers, where its stereochemical properties can influence material performance. Its role in facilitating high-precision chemical transformations underscores its importance in modern synthetic chemistry.