This compound is primarily utilized in the field of organic synthesis as a chiral ligand or catalyst. Its unique structure enables it to facilitate asymmetric reactions, which are crucial for producing enantiomerically pure compounds. These reactions are particularly important in the pharmaceutical industry, where the biological activity of a drug often depends on its specific stereochemistry. Additionally, it finds application in the development of advanced materials, where its chiral properties can influence the formation of structured polymers or other complex molecules. Its role in these processes underscores its significance in enhancing the efficiency and selectivity of chemical transformations.