This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal catalysts. Its unique spirobiindane structure and chiral centers make it highly effective in facilitating enantioselective reactions, which are crucial in the production of pharmaceuticals and fine chemicals. It is often employed in asymmetric hydrogenation, carbon-carbon bond formation, and other stereospecific transformations, enabling the synthesis of complex molecules with high enantiomeric purity. Additionally, its rigid framework and stability under various reaction conditions make it a valuable tool in organic synthesis and industrial applications.