This compound is primarily used as a chiral ligand in asymmetric catalysis, particularly in reactions where high enantioselectivity is required. It is often employed in the synthesis of optically active compounds, such as pharmaceuticals and fine chemicals, where controlling the stereochemistry of the product is crucial. Its unique structure allows it to effectively coordinate with metal catalysts, enhancing their selectivity and efficiency in asymmetric transformations like hydrogenation, cross-coupling, and other carbon-carbon bond-forming reactions. Additionally, it has been explored in the development of advanced materials and chiral sensors due to its ability to induce chirality in complex systems.