This chemical is primarily utilized in asymmetric catalysis, particularly in enantioselective hydrogenation reactions. It is highly effective in producing chiral compounds, which are crucial in the pharmaceutical industry for synthesizing active pharmaceutical ingredients (APIs) with high enantiomeric purity. Its application extends to the production of fine chemicals, where precise control over stereochemistry is essential. The catalyst's efficiency and selectivity make it valuable in research and industrial processes aimed at developing optically pure substances. Additionally, it is employed in organic synthesis for constructing complex molecular architectures with high stereochemical fidelity.