This compound is primarily utilized as a chiral ligand in asymmetric synthesis, where it plays a crucial role in facilitating enantioselective reactions. Its unique spirobiindane structure provides a rigid framework that enhances stereocontrol, making it particularly effective in catalytic processes such as hydrogenation, carbon-carbon bond formation, and oxidation reactions. Additionally, it is employed in the development of chiral catalysts for pharmaceutical synthesis, enabling the production of enantiomerically pure drugs. Its application extends to material science, where it is used to design chiral polymers and advanced materials with specific optical properties.