This chemical is primarily used as a catalyst in asymmetric hydrogenation reactions, a process crucial for producing chiral molecules in the pharmaceutical and fine chemical industries. Its high enantioselectivity makes it particularly valuable for synthesizing optically active compounds, such as chiral alcohols, amines, and acids, which are essential intermediates in drug manufacturing. The catalyst’s efficiency and selectivity help reduce waste and improve the sustainability of chemical processes. Additionally, it is employed in academic and industrial research to develop new methodologies for asymmetric synthesis, contributing to advancements in organic chemistry and material science.