This compound is primarily utilized in asymmetric synthesis and catalysis due to its chiral structure, which makes it effective in enantioselective reactions. It is often employed as a chiral ligand in transition metal-catalyzed processes, such as hydrogenation, carbon-carbon bond formation, and other stereospecific transformations. Its ability to induce high enantiomeric excess in products makes it valuable in the production of pharmaceuticals, fine chemicals, and agrochemicals. Additionally, it is used in research to study chiral induction mechanisms and to develop new catalytic systems for organic synthesis. Its stability and selectivity contribute to its effectiveness in complex synthetic pathways.