This chemical is widely used as a catalyst in asymmetric hydrogenation reactions, particularly in the synthesis of chiral compounds. Its application is crucial in the pharmaceutical industry, where it facilitates the production of enantiomerically pure drugs, ensuring high efficacy and reduced side effects. Additionally, it is employed in the fine chemicals sector for the synthesis of complex organic molecules with specific stereochemistry. The catalyst’s efficiency and selectivity make it valuable in academic and industrial research for developing new synthetic pathways and optimizing existing processes.