This chemical is primarily used as a catalyst in asymmetric hydrogenation reactions, which are crucial in the synthesis of chiral molecules. It is particularly effective in producing enantiomerically pure compounds, which are essential in the pharmaceutical industry for developing drugs with specific desired activities. The catalyst's high selectivity and efficiency make it valuable in creating complex organic molecules, including amino acids and other bioactive compounds. Its application extends to fine chemical manufacturing, where precise control over molecular structure is required.