This compound is primarily utilized in the field of organic synthesis, particularly as a chiral ligand or catalyst in asymmetric reactions. Its unique structure allows it to effectively induce chirality in the formation of complex molecules, making it valuable in the production of enantiomerically pure pharmaceuticals. Additionally, it is employed in the development of advanced materials, where its ability to control stereochemistry is crucial for creating polymers with specific optical or mechanical properties. Its application in catalysis also extends to fine chemical synthesis, where it aids in the efficient and selective formation of target compounds.