This chemical is widely used as a catalyst in asymmetric hydrogenation reactions, particularly in the synthesis of chiral compounds. It is highly effective in producing enantiomerically pure pharmaceuticals, agrochemicals, and fine chemicals. Its application is crucial in the production of active pharmaceutical ingredients (APIs) where high enantiomeric purity is required. Additionally, it is employed in the synthesis of complex organic molecules, enabling efficient and selective transformations. The catalyst is also utilized in academic and industrial research for developing new methodologies in asymmetric synthesis.