This compound is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It is often employed in transition metal-catalyzed processes, such as hydrogenation, to produce optically active compounds with high enantiomeric purity. Its effectiveness stems from its ability to induce chirality in the catalyst, leading to the preferential formation of one enantiomer over the other. This makes it valuable in the pharmaceutical industry for synthesizing chiral drugs and intermediates. Additionally, it is used in academic research to explore new catalytic methodologies and optimize stereoselective reactions.