This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in enantioselective reactions. It serves as a chiral catalyst or ligand in organic transformations, enabling the production of optically active compounds with high enantiomeric purity. Its application is significant in the pharmaceutical industry for the synthesis of chiral drugs, where stereochemistry plays a crucial role in efficacy and safety. Additionally, it is employed in academic research to explore novel catalytic processes and develop new methodologies for asymmetric synthesis. The compound’s unique structure allows it to efficiently induce chirality in various substrates, making it a valuable tool in synthetic organic chemistry.