This compound is primarily used as a chiral ligand in asymmetric catalysis, particularly in the synthesis of enantiomerically pure compounds. It is highly effective in transition metal-catalyzed reactions, such as asymmetric hydrogenation, where it helps in achieving high enantioselectivity. The application is crucial in the pharmaceutical industry for producing chiral drugs, where the specific enantiomer can have significant therapeutic effects. Additionally, it is used in the fine chemical industry for the synthesis of complex organic molecules with high stereochemical control. Its unique structure and chiral environment make it a valuable tool in organic synthesis for creating molecules with precise stereochemistry.