This compound is primarily utilized in the field of asymmetric catalysis, particularly in organic synthesis. It serves as a chiral ligand in transition metal-catalyzed reactions, enabling the production of enantiomerically pure compounds. Its unique structure allows for high selectivity and efficiency in reactions such as hydrogenation, which is crucial in the pharmaceutical industry for synthesizing active pharmaceutical ingredients (APIs) with specific stereochemistry. Additionally, it finds application in the development of advanced materials, where precise molecular control is essential for achieving desired properties.