This compound is primarily utilized in the field of asymmetric synthesis, particularly as a chiral catalyst or ligand in organic reactions. Its unique structure allows it to facilitate enantioselective transformations, making it valuable in the production of pharmaceuticals and fine chemicals where specific stereochemistry is crucial. It is often employed in catalytic processes such as asymmetric hydrogenation, oxidation, or carbon-carbon bond formation, enabling the synthesis of complex molecules with high enantiomeric purity. Additionally, its application extends to the development of novel materials and intermediates in chemical research, where precise control over molecular chirality is required.