This complex is primarily utilized in asymmetric catalysis, particularly in hydrogenation reactions. It is highly effective in producing enantiomerically pure compounds, which are crucial in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs). The compound's ability to induce high enantioselectivity makes it valuable in the production of chiral drugs, ensuring the desired biological activity and reducing side effects. Additionally, it is employed in fine chemical synthesis, where precise control over stereochemistry is essential. Its use extends to academic research, where it serves as a model catalyst for studying asymmetric hydrogenation mechanisms and developing new catalytic systems.