This compound is widely used as a chiral ligand in asymmetric synthesis, particularly in catalytic asymmetric reactions. It plays a crucial role in facilitating enantioselective transformations, such as hydrogenation, carbon-carbon bond formation, and other key organic reactions. Its application is significant in the pharmaceutical industry for the production of chiral drugs, where the enantiomeric purity is essential for efficacy and safety. Additionally, it is employed in the development of advanced materials and fine chemicals, contributing to the synthesis of complex molecules with high stereochemical control.