This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure enables it to effectively coordinate with transition metals, facilitating enantioselective reactions. This makes it valuable in the production of pharmaceuticals, where achieving specific enantiomers is crucial for drug efficacy and safety. Additionally, it finds application in the synthesis of complex organic molecules, aiding in the development of advanced materials and fine chemicals. Its role in asymmetric hydrogenation and carbon-carbon bond-forming reactions highlights its importance in modern synthetic chemistry.