This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in the synthesis of enantiomerically pure compounds. It plays a crucial role in transition metal-catalyzed reactions, such as hydrogenation, where it helps achieve high enantioselectivity. Its application is significant in the pharmaceutical industry for the production of chiral drugs, ensuring the desired biological activity and reducing side effects. Additionally, it is employed in the development of advanced materials and fine chemicals, where precise control over molecular structure is essential. The compound's robust and rigid framework contributes to its stability and effectiveness in various catalytic processes.