This compound is primarily utilized in asymmetric catalysis, particularly in the synthesis of chiral molecules. Its structure, featuring a diphenylphosphanyl group and an adamantyl moiety, makes it effective in facilitating enantioselective reactions, such as hydrogenation and carbon-carbon bond formation. The adamantyl group enhances steric bulk, improving selectivity, while the phosphanyl group acts as a ligand, stabilizing transition metals like rhodium or iridium in catalytic processes. This chemical is valuable in pharmaceutical research for producing enantiomerically pure compounds, which are crucial for drug development. Additionally, it finds use in fine chemical synthesis, enabling the production of complex organic molecules with high precision.