This chemical is primarily utilized in the field of organic synthesis, particularly as a ligand in catalytic processes. Its unique structure makes it effective in facilitating asymmetric transformations, which are crucial in the production of chiral compounds. These chiral compounds are essential in the pharmaceutical industry for the development of enantiomerically pure drugs. Additionally, it is employed in the synthesis of complex organic molecules, where its role as a catalyst enhances the efficiency and selectivity of the reactions. The compound's stability and reactivity under various conditions make it a valuable tool in advanced chemical research and industrial applications.