This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its application is significant in the synthesis of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for producing drugs with specific desired activities. The compound's structure allows it to effectively induce chirality in the products of reactions such as hydrogenation, cross-coupling, and hydroformylation. This makes it valuable for creating complex molecules with high enantioselectivity, essential for developing active pharmaceutical ingredients (APIs) with minimal side effects. Additionally, it is used in academic and industrial research to explore new catalytic processes and optimize existing ones for better efficiency and selectivity.