This compound is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure allows it to effectively coordinate with metal centers, enabling the induction of chirality in various chemical reactions. This is especially valuable in the production of enantiomerically pure pharmaceuticals, where the specific spatial arrangement of atoms can significantly influence the drug's efficacy and safety. Additionally, it finds application in the development of advanced materials, where its ability to control stereochemistry can lead to the creation of polymers and other compounds with tailored properties. Its role in these processes underscores its importance in both industrial and academic research settings.