This compound is primarily utilized in the field of organic synthesis as a chiral ligand or catalyst. Its unique structure makes it effective in asymmetric catalysis, particularly in reactions where enantioselectivity is crucial, such as hydrogenation or carbon-carbon bond-forming processes. It is often employed in the pharmaceutical industry to produce optically active compounds, which are essential for developing drugs with specific biological activities. Additionally, it finds application in materials science for the synthesis of chiral polymers or advanced materials with tailored properties. Its stability and steric properties make it a valuable tool in complex synthetic pathways.