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