This chemical is widely used as a chiral catalyst in asymmetric hydrogenation reactions, particularly in the pharmaceutical industry for synthesizing enantiomerically pure compounds. Its high selectivity and efficiency make it valuable for producing active pharmaceutical ingredients (APIs) with specific stereochemistry, such as chiral alcohols, amines, and carboxylic acids. It is also employed in fine chemical synthesis to create intermediates for agrochemicals, fragrances, and specialty chemicals. The catalyst’s robust performance under mild reaction conditions enhances its applicability in industrial processes, reducing energy consumption and improving overall yield.