This chemical is primarily used as a chiral catalyst in asymmetric hydrogenation reactions, which are crucial in the synthesis of optically active compounds. Its application is particularly significant in the pharmaceutical industry, where it aids in the production of enantiomerically pure drugs. The compound's high selectivity and efficiency make it valuable for creating complex molecules with specific stereochemistry, ensuring the desired biological activity and reducing unwanted side effects. Additionally, it is employed in fine chemical synthesis, enabling the production of high-purity intermediates for various industrial processes. Its robust performance under mild reaction conditions further enhances its utility in diverse catalytic applications.