This compound is primarily utilized in organic synthesis as a chiral catalyst, particularly in asymmetric hydrogenation reactions. Its structure enables it to facilitate the formation of enantiomerically pure compounds, which are crucial in the production of pharmaceuticals and fine chemicals. The chiral nature of the compound allows for precise control over the stereochemistry of the reaction, leading to high selectivity and efficiency. It is often employed in the synthesis of complex molecules where the spatial arrangement of atoms significantly impacts the biological activity or chemical properties of the final product. Additionally, its stability and compatibility with various reaction conditions make it a versatile tool in advanced chemical research and industrial applications.