This compound is primarily utilized in asymmetric catalysis, particularly in enantioselective synthesis. It serves as an effective 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 used in academic research to study and develop new catalytic methodologies for complex organic transformations. Its unique structure allows for precise control over stereochemistry, making it valuable in the synthesis of biologically active molecules and fine chemicals.