This chemical is primarily used as a highly efficient chiral catalyst in asymmetric hydrogenation reactions. It plays a crucial role in the synthesis of enantiomerically pure compounds, which are essential in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its application is particularly significant in the hydrogenation of ketones, imines, and olefins, where it ensures high selectivity and yield of the desired enantiomer. This makes it a valuable tool in the development of drugs and other biologically active molecules, where the specific spatial arrangement of atoms can significantly impact efficacy and safety. Additionally, it is employed in academic and industrial research to explore new methodologies in asymmetric synthesis, contributing to advancements in organic chemistry and material science.