This chemical is primarily utilized in asymmetric catalysis, particularly in enantioselective hydrogenation reactions. Its unique structure makes it highly effective in producing chiral compounds, which are crucial in the pharmaceutical industry for the synthesis of enantiomerically pure drugs. Additionally, it is employed in the development of advanced materials and fine chemicals, where precise control over molecular configuration is essential. Its application in organic synthesis also extends to the production of agrochemicals and specialty chemicals, where high selectivity and efficiency are required.