This compound is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in transition metal-catalyzed reactions. Its unique structure allows it to induce high enantioselectivity in processes such as hydrogenation, carbon-carbon bond formation, and other stereospecific transformations. It is especially valuable in the pharmaceutical industry for the production of enantiomerically pure drugs, where the specific spatial arrangement of atoms can significantly influence the drug's efficacy and safety. Additionally, it finds application in the synthesis of complex organic molecules, enabling the creation of compounds with precise stereochemistry for use in advanced materials and fine chemicals.