This compound is primarily utilized in the field of asymmetric synthesis, particularly as a chiral ligand in catalytic reactions. Its unique structure allows it to effectively coordinate with transition metals, enhancing the enantioselectivity of various chemical transformations. It is commonly employed in hydrogenation reactions, where it facilitates the production of chiral molecules with high optical purity. Additionally, it finds application in the synthesis of pharmaceuticals and fine chemicals, where precise control over stereochemistry is crucial. Its stability and efficiency make it a valuable tool in the development of enantioselective catalysts for industrial and academic research.