This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in enantioselective reactions. It serves as an effective chiral ligand or catalyst in organic transformations, enabling the production of enantiomerically pure compounds. Its application is significant in pharmaceutical synthesis, where it aids in the creation of chiral drugs with high stereochemical control. Additionally, it is employed in academic research to study and develop new catalytic systems for asymmetric induction, contributing to advancements in synthetic organic chemistry.