This compound is widely used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It plays a crucial role in enantioselective synthesis, enabling the production of chiral molecules with high optical purity. Its application is prominent in the pharmaceutical industry for the synthesis of enantiomerically pure drugs, where the specific chirality of a molecule can significantly impact its biological activity. Additionally, it is employed in the development of fine chemicals and agrochemicals, where precise control over stereochemistry is essential. Its robust and stable structure makes it a preferred choice for complex catalytic processes, ensuring high efficiency and selectivity in asymmetric transformations.