This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in the synthesis of enantiomerically pure compounds. Its application is significant in the pharmaceutical industry, where it aids in the production of chiral drugs, ensuring high enantioselectivity and yield. Additionally, it is employed in organic synthesis for the creation of complex molecules with specific stereochemistry, which is crucial for the development of advanced materials and fine chemicals. Its role in catalytic processes enhances efficiency and selectivity, making it a valuable component in various chemical transformations.