This compound is primarily utilized in the field of asymmetric synthesis, where it serves as a chiral catalyst or ligand. It is particularly effective in facilitating enantioselective reactions, which are crucial for producing optically active compounds in pharmaceuticals and fine chemicals. Its unique structure allows it to induce high levels of stereoselectivity, making it valuable in the synthesis of complex molecules with specific chiral configurations. Additionally, it is employed in the development of advanced materials and in academic research to explore new catalytic processes.