Used extensively in asymmetric synthesis, this compound serves as a chiral ligand in catalytic reactions, particularly in the enantioselective hydrogenation of ketones and imines. Its unique structure enhances stereochemical control, making it valuable in the production of pharmaceuticals where precise chirality is crucial. Additionally, it is employed in the development of chiral materials for optoelectronic applications, leveraging its ability to induce specific optical properties. The compound's robustness and efficiency in catalysis also make it a preferred choice in academic and industrial research for exploring new synthetic pathways.