This chemical is primarily used as a chiral catalyst in asymmetric hydrogenation reactions, which are crucial in the synthesis of enantiomerically pure compounds. Its application is particularly significant in the pharmaceutical industry, where it aids in the production of chiral drugs, ensuring high enantioselectivity and yield. The catalyst is also employed in the fine chemicals sector for the synthesis of complex organic molecules, including agrochemicals and specialty chemicals. Its unique structure allows for precise control over the stereochemistry of the products, making it a valuable tool in organic synthesis. Additionally, it is utilized in academic research to explore new methodologies in asymmetric catalysis, contributing to advancements in synthetic chemistry.