This chemical is primarily utilized in asymmetric synthesis, particularly as a chiral auxiliary or ligand in catalytic reactions. Its unique structure allows it to induce chirality in organic compounds, making it valuable in the production of enantiomerically pure pharmaceuticals and fine chemicals. It is often employed in transition metal-catalyzed reactions, such as asymmetric hydrogenation or cross-coupling reactions, where high enantioselectivity is required. Additionally, its ferrocene backbone provides stability and ease of modification, enhancing its versatility in various synthetic applications.