This chemical is primarily used as a chiral catalyst in asymmetric hydrogenation reactions, which are crucial for producing enantiomerically pure compounds in the pharmaceutical and fine chemical industries. Its application is particularly significant in the synthesis of chiral intermediates for drugs, agrochemicals, and specialty chemicals. The compound's structure, featuring a binaphthyl backbone and ruthenium center, enables high selectivity and efficiency in reducing prochiral substrates like ketones, alkenes, and imines. It is also employed in the production of optically active alcohols, amines, and other valuable chiral molecules, contributing to the development of more effective and safer therapeutic agents. Additionally, its use extends to academic research for exploring new catalytic processes and improving existing methodologies in asymmetric synthesis.