Used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions such as asymmetric hydrogenation and cross-coupling. Its rigid binaphthyl backbone provides excellent stereocontrol, making it effective for inducing high enantioselectivity in the synthesis of chiral molecules. Commonly employed in pharmaceutical and fine chemical industries where precise stereochemistry is critical. Also utilized in the development of catalysts for academic research focused on new asymmetric transformations.