This chemical is primarily used as a chiral ligand in asymmetric catalysis, particularly in the synthesis of enantiomerically pure compounds. Its application is significant in the pharmaceutical industry, where it facilitates the production of chiral drugs with high enantiomeric purity. The compound's unique structure allows it to effectively coordinate with transition metals, enhancing the selectivity and efficiency of catalytic reactions such as hydrogenation, carbon-carbon bond formation, and other stereospecific transformations. Additionally, it is employed in the development of advanced materials and fine chemicals, where precise control over molecular chirality is crucial for achieving desired properties and functionalities.