This compound is primarily utilized in the development of chiral catalysts for asymmetric synthesis, particularly in organic chemistry research. Its unique structure allows it to act as a ligand in metal-catalyzed reactions, enhancing the efficiency and selectivity of processes such as hydrogenation and carbon-carbon bond formation. Additionally, it finds application in the synthesis of pharmaceuticals, where its chiral properties are crucial for producing enantiomerically pure drugs. The compound is also studied for its potential use in materials science, particularly in the design of advanced polymers and liquid crystals with specific optical properties.