This chemical is primarily used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It is highly effective in enantioselective hydrogenation, where it helps in producing chiral compounds with high optical purity. The compound is also employed in asymmetric carbon-carbon bond-forming reactions, such as allylic alkylation and cross-coupling reactions, which are crucial in the synthesis of pharmaceuticals and fine chemicals. Its ferrocene backbone and chiral centers make it a valuable tool in creating complex molecules with specific stereochemistry, essential for drug development and advanced material synthesis.