This compound is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where high enantioselectivity is required. It plays a significant role in the formation of carbon-carbon and carbon-heteroatom bonds, making it valuable in the production of pharmaceuticals and fine chemicals. Its application extends to transition metal-catalyzed reactions, such as hydrogenation, cross-coupling, and allylic substitution, where it helps achieve precise stereochemical control. Additionally, it is employed in the synthesis of complex organic molecules, including natural products and biologically active compounds, where the stereochemistry of the product is critical for its function.