This chemical is primarily used as a catalyst in asymmetric hydrogenation reactions, which are crucial in the synthesis of chiral molecules. These reactions are widely applied in the pharmaceutical industry to produce enantiomerically pure compounds, which are essential for the development of drugs with specific biological activities. The chiral nature of the catalyst allows for high selectivity and efficiency in the production of complex organic molecules, making it valuable in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it is utilized in academic research to explore new methodologies in asymmetric catalysis, contributing to advancements in synthetic organic chemistry.