This compound is primarily utilized in asymmetric synthesis, particularly in catalytic processes where high enantioselectivity is required. It serves as a chiral ligand in transition metal-catalyzed reactions, such as hydrogenation, cross-coupling, and allylic alkylation, enabling the production of enantiomerically pure compounds. Its sterically demanding and electron-rich structure makes it effective in controlling the stereochemistry of the reaction, leading to products with high optical purity. This is especially valuable in the pharmaceutical industry for the synthesis of chiral drugs, where the specific enantiomer often determines the biological activity. Additionally, it finds application in the development of advanced materials and fine chemicals, where precise stereocontrol is essential.