This chemical is primarily utilized in the field of organic synthesis, particularly as a chiral ligand in asymmetric catalysis. Its unique structure makes it highly effective in facilitating enantioselective reactions, which are crucial for producing pharmaceuticals with specific stereochemical properties. The compound's ability to form stable complexes with transition metals enhances its utility in catalytic processes such as hydrogenation, hydroformylation, and carbon-carbon bond formation. Additionally, its sterically hindered design contributes to high selectivity and efficiency in these reactions, making it a valuable tool in the synthesis of complex organic molecules.