This chemical is primarily utilized in asymmetric synthesis, particularly in catalytic processes where it serves as a chiral ligand. It is highly effective in facilitating enantioselective reactions, such as hydrogenation, which are crucial in the production of pharmaceuticals and fine chemicals. Its unique structure allows for precise control over the stereochemistry of the reaction products, ensuring high enantiomeric purity. This makes it invaluable in the synthesis of complex molecules where specific stereochemistry is required for biological activity or desired properties. Additionally, it is employed in the development of advanced materials and in research focused on exploring new catalytic systems.