This chemical is widely used as a chiral catalyst in asymmetric hydrogenation reactions, particularly in the pharmaceutical and fine chemical industries. It is highly effective in producing enantiomerically pure compounds, which are crucial for the synthesis of active pharmaceutical ingredients (APIs) and other chiral molecules. Its application is prominent in the reduction of prochiral olefins, ketones, and imines, enabling the production of compounds with high enantioselectivity and yield. Additionally, it is employed in academic and industrial research for developing new synthetic methodologies and optimizing existing processes for chiral molecule production. Its stability and efficiency make it a valuable tool in asymmetric synthesis.