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 producing active pharmaceutical ingredients (APIs) with high stereoselectivity. Its application extends to the production of fine chemicals, where it aids in creating complex molecules with specific chiral configurations. Additionally, it is employed in academic and industrial research to develop new synthetic methodologies for asymmetric transformations, enhancing the efficiency and selectivity of catalytic processes.