This chemical is primarily utilized in asymmetric catalysis, particularly in the synthesis of chiral molecules. It is highly effective in hydrogenation reactions, where it facilitates the addition of hydrogen to unsaturated compounds, such as alkenes, ketones, and imines, with high enantioselectivity. This makes it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals, where the creation of specific chiral forms is crucial for biological activity. Its robust performance in these reactions contributes to more efficient and selective manufacturing processes in the chemical industry.