This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure allows it to coordinate with metal centers, facilitating the creation of enantiomerically pure compounds. This is especially valuable in the pharmaceutical industry, where the production of single-enantiomer drugs is crucial for efficacy and safety. Additionally, it finds application in the development of advanced materials, where its ability to induce chirality can lead to novel properties in polymers and other complex molecules. Its stability and specificity make it a preferred choice for researchers aiming to achieve high selectivity in catalytic processes.