This complex is primarily utilized in asymmetric catalysis, particularly in hydrogenation reactions. It is highly effective in the enantioselective reduction of various unsaturated compounds, such as alkenes and ketones, producing chiral molecules with high selectivity. This makes it valuable in the synthesis of pharmaceuticals and fine chemicals, where precise stereochemistry is crucial. The compound's unique structure, incorporating a chiral oxazole ligand and a cyclooctadiene moiety, enhances its catalytic efficiency and selectivity. Additionally, its use in organic synthesis can lead to the production of intermediates for agrochemicals and specialty materials.