This chemical is primarily used as a chiral catalyst in asymmetric hydrogenation reactions, which are crucial in the synthesis of optically active compounds. It is particularly effective in the production of pharmaceuticals, where the creation of specific enantiomers is essential for drug efficacy and safety. The catalyst is also employed in the fine chemicals industry for the synthesis of complex organic molecules with high enantiomeric purity. Its application extends to the development of agrochemicals and fragrances, where precise stereochemistry is required to achieve desired properties. The robust nature of this catalyst allows for its use in a variety of reaction conditions, making it a versatile tool in organic synthesis.