This chemical is primarily utilized in asymmetric catalysis, particularly in transfer hydrogenation reactions. It is highly effective in reducing ketones and imines to produce chiral alcohols and amines, which are valuable intermediates in the synthesis of pharmaceuticals and fine chemicals. Its unique structure allows for high enantioselectivity, making it a preferred catalyst in the production of optically active compounds. Additionally, it is employed in organic synthesis to achieve precise stereochemical control, enhancing the efficiency and selectivity of complex chemical transformations.