This compound is primarily utilized in the field of catalysis, particularly in asymmetric hydrogenation reactions. It serves as a chiral ligand, enabling the production of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs). Its unique structure allows for high selectivity and efficiency in these reactions, making it valuable for the development of drugs with specific stereochemical requirements. Additionally, it finds applications in organic synthesis, where it aids in the formation of complex molecular structures with precise spatial arrangements.