This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its unique structure allows it to coordinate with metals like rhodium, iridium, and palladium, enabling the production of enantiomerically pure compounds. It is widely applied in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals, where high enantioselectivity is crucial. Additionally, it is used in hydrogenation, hydroformylation, and carbon-carbon bond-forming reactions, contributing to the development of advanced materials and bioactive molecules. Its effectiveness in controlling stereochemistry makes it a valuable tool in organic synthesis and industrial processes.