This chemical is primarily utilized in the field of asymmetric synthesis, particularly as a chiral ligand in catalytic reactions. Its unique structure allows it to effectively induce chirality in various organic transformations, such as asymmetric hydrogenation, carbon-carbon bond formation, and oxidation reactions. It is highly valued in the pharmaceutical industry for the synthesis of enantiomerically pure compounds, which are crucial for producing drugs with specific biological activities. Additionally, it finds applications in materials science, where it is used to develop chiral materials with potential uses in optoelectronics and sensors. Its robustness and ability to provide high enantioselectivity make it a versatile tool in advanced chemical research and industrial processes.