This chemical is primarily utilized in asymmetric synthesis, serving as a chiral ligand or catalyst in various organic reactions. It is particularly effective in enantioselective transformations, such as hydrogenation and carbon-carbon bond-forming reactions, enabling the production of optically active compounds. Its application is significant in the pharmaceutical industry, where it aids in the synthesis of chiral drugs with high enantiomeric purity. Additionally, it is used in materials science for the development of chiral polymers and advanced functional materials. Its role in facilitating stereocontrol makes it a valuable tool in both academic research and industrial processes.