This chemical is primarily used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It plays a crucial role in enantioselective synthesis, helping to produce chiral compounds with high optical purity. Its application is significant in the pharmaceutical industry, where it aids in the synthesis of enantiomerically pure drugs. Additionally, it is employed in organic synthesis for creating complex molecules with specific stereochemistry, making it valuable in the development of fine chemicals and agrochemicals. Its stability and efficiency in catalytic systems make it a preferred choice for various synthetic transformations.