This complex is primarily utilized in asymmetric catalysis, particularly in hydrogenation reactions. It is highly effective in the enantioselective reduction of prochiral substrates, producing chiral molecules with high optical purity. This makes it valuable in the pharmaceutical industry for synthesizing enantiomerically pure drugs. Additionally, it is employed in fine chemical synthesis, where precise control over stereochemistry is crucial. Its robust structure and stability under reaction conditions allow for efficient and reusable catalytic processes, enhancing cost-effectiveness in industrial applications.