This compound is primarily utilized in asymmetric synthesis, particularly in catalytic asymmetric hydrogenation reactions. It serves as a chiral ligand in transition metal catalysis, enabling the production of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs). Its application is significant in creating chiral centers with high enantioselectivity, ensuring the desired stereochemistry in complex molecules. Additionally, it is employed in the development of fine chemicals and agrochemicals, where precise stereochemical control is essential for efficacy and safety. The compound's robust structure and steric properties make it suitable for challenging transformations, enhancing the efficiency and selectivity of catalytic processes.