This chemical is primarily utilized in asymmetric catalysis, particularly in the synthesis of chiral compounds. Its unique structure and properties make it highly effective as a ligand in transition metal-catalyzed reactions, such as hydrogenation, carbon-carbon bond formation, and other enantioselective transformations. It is often employed in the pharmaceutical industry to produce optically active intermediates for drug development, ensuring high enantiomeric purity. Additionally, it finds application in material science for the creation of advanced chiral materials with specific optical or electronic properties. Its stability and reactivity under various conditions make it a valuable tool in organic synthesis and industrial processes.