This compound is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its unique structure allows it to effectively induce enantioselectivity, making it valuable in the synthesis of optically active compounds. It is often employed in asymmetric hydrogenation, carbon-carbon bond formation, and other stereoselective transformations. Its application is significant in the pharmaceutical industry, where it aids in the production of enantiomerically pure drugs and intermediates. Additionally, it is used in academic research to explore new methodologies in organic synthesis and to develop more efficient catalytic systems.