Used as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It is employed in the production of pharmaceuticals to create optically active compounds, enhancing the efficacy and reducing side effects of drugs. Additionally, it serves as a catalyst in organic transformations, such as hydrogenation and carbon-carbon bond formation, improving reaction efficiency and selectivity. Its role in stereochemistry makes it valuable in research and development of new therapeutic agents and fine chemicals.