This compound is primarily utilized in asymmetric catalysis, particularly in organic synthesis. It serves as a chiral ligand or catalyst in enantioselective reactions, enabling the production of optically active compounds. Its application is significant in the pharmaceutical industry, where it aids in the synthesis of chiral drugs, ensuring high enantiomeric purity. Additionally, it is employed in the development of advanced materials, contributing to the creation of polymers and other specialized compounds with precise stereochemical properties. Its unique structure enhances reactivity and selectivity in complex chemical transformations.