This chemical is primarily used as a chiral catalyst in asymmetric hydrogenation reactions, which are critical in the synthesis of optically active compounds. It is particularly effective in the hydrogenation of olefins, ketones, and imines, enabling the production of enantiomerically pure substances. This is highly valuable in the pharmaceutical industry, where the synthesis of chiral drugs requires precise control over stereochemistry. Additionally, it finds applications in fine chemical synthesis, contributing to the production of specialty chemicals with high enantioselectivity. Its robust performance and selectivity make it a preferred choice for research and industrial processes aiming for high-purity chiral products.