This chemical is primarily used as a highly efficient chiral catalyst in asymmetric hydrogenation reactions. It is particularly valuable in the synthesis of pharmaceuticals and fine chemicals, where it enables the production of enantiomerically pure compounds. Its application is crucial in creating chiral intermediates for drugs, agrochemicals, and other bioactive molecules. The catalyst's high selectivity and activity make it a preferred choice for industries requiring precise control over stereochemistry in complex organic transformations.