This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal catalysts. It is highly effective in facilitating enantioselective reactions, which are crucial for producing pharmaceuticals with high optical purity. The compound's chiral structure allows it to induce asymmetry in chemical reactions, making it valuable in the synthesis of complex organic molecules. Additionally, it is employed in research and development for designing new catalytic systems and exploring novel synthetic pathways in organic chemistry. Its application extends to the production of fine chemicals and intermediates used in the manufacture of drugs, agrochemicals, and specialty materials.