This chemical is widely utilized in the field of asymmetric catalysis, particularly in the synthesis of chiral compounds. It serves as a highly effective ligand in transition metal-catalyzed reactions, such as hydrogenation, cross-coupling, and allylic substitution. Its unique structure, featuring a binaphthyl backbone and phosphine groups, enables precise control over stereochemistry, making it invaluable in the production of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, its application extends to the development of advanced materials, where it aids in creating chiral polymers and supramolecular assemblies with specific optical properties.