This chemical is widely used as a chiral ligand in asymmetric synthesis, particularly in catalytic hydrogenation reactions. Its ability to induce chirality makes it valuable in the production of enantiomerically pure compounds, which are crucial in pharmaceuticals for ensuring the desired biological activity and reducing side effects. Additionally, it is employed in the synthesis of fine chemicals and agrochemicals, where stereoselectivity is essential. Its stability and efficiency in coordinating with transition metals, such as rhodium and iridium, enhance its role in creating highly selective catalysts for various organic transformations.