This chemical is primarily utilized as a highly efficient chiral catalyst in asymmetric hydrogenation reactions, which are crucial in the synthesis of optically active compounds. It is particularly effective in the production of enantiomerically pure pharmaceuticals, agrochemicals, and fine chemicals, where the precise control of stereochemistry is essential. Its application extends to the asymmetric reduction of ketones, imines, and olefins, enabling the creation of complex molecules with high enantioselectivity. Additionally, it is employed in academic and industrial research for developing new catalytic processes and optimizing existing ones, contributing to advancements in green chemistry and sustainable synthesis methods.