This chemical is widely used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its unique structure allows it to facilitate enantioselective transformations, making it valuable in the synthesis of pharmaceuticals and fine chemicals. It is often employed in hydrogenation, hydroformylation, and carbon-carbon bond-forming reactions, where high enantiomeric purity is crucial. Additionally, its bicyclic framework provides stability and steric control, enhancing the efficiency and selectivity of catalytic processes.