This compound is widely utilized in asymmetric synthesis and catalysis due to its chiral structure. It serves as an effective ligand in transition metal-catalyzed reactions, particularly in enantioselective transformations, such as hydrogenation and carbon-carbon bond formation. Its rigid, bulky framework enhances stereocontrol, making it valuable in producing chiral intermediates for pharmaceuticals and fine chemicals. Additionally, it is employed in the development of chiral materials and sensors, leveraging its ability to induce chirality in various systems.