This compound is primarily utilized in the field of organic synthesis, particularly as a ligand in catalytic processes. Its structure allows it to coordinate with metal centers, enhancing the efficiency and selectivity of various reactions, such as cross-coupling reactions and asymmetric hydrogenations. Additionally, it finds application in the development of pharmaceuticals, where it can be employed to create chiral intermediates, crucial for the synthesis of enantiomerically pure drugs. Its role in catalysis also extends to material science, aiding in the production of specialized polymers and advanced materials with tailored properties.