This chemical is primarily used as a highly efficient chiral catalyst in asymmetric hydrogenation reactions. It is particularly valuable in the pharmaceutical industry for synthesizing enantiomerically pure compounds, which are crucial for developing active pharmaceutical ingredients (APIs) with high specificity and reduced side effects. Its application extends to the production of fine chemicals and intermediates, where precise control over stereochemistry is essential. Additionally, it is employed in academic and industrial research to explore new methodologies in asymmetric synthesis, contributing to advancements in organic chemistry and catalysis.