This chemical is primarily utilized in asymmetric catalysis, particularly in enantioselective hydrogenation reactions. It is highly effective in producing chiral compounds, which are essential in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs) with specific stereochemistry. The compound’s ability to induce high enantioselectivity makes it valuable for creating intermediates used in drugs, agrochemicals, and fine chemicals. Additionally, it is employed in academic and industrial research to develop new catalytic processes for organic synthesis, contributing to advancements in green chemistry and sustainable manufacturing practices.