This compound is widely used as a chiral ligand in asymmetric catalysis, particularly in hydrogenation reactions. It plays a crucial role in the synthesis of enantiomerically pure pharmaceuticals, agrochemicals, and fine chemicals. Its ability to induce high enantioselectivity makes it valuable in producing compounds with specific stereochemistry, which is essential for the biological activity of many drugs. Additionally, it is employed in the development of chiral catalysts for organic transformations, enhancing the efficiency and selectivity of various chemical processes.