This chemical is primarily utilized in the field of asymmetric catalysis, particularly in enantioselective synthesis. It serves as a chiral catalyst or ligand in organic reactions, enabling the production of optically active compounds. Its application is significant in the pharmaceutical industry, where it aids in the synthesis of chiral drugs, ensuring high enantiomeric purity. Additionally, it is employed in academic research for developing new methodologies in stereoselective transformations. The compound's unique structure allows it to effectively control the stereochemistry of reactions, making it valuable for creating complex molecules with specific chiral configurations.