This chemical is widely used as a ligand in transition metal catalysis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its ability to stabilize metal complexes enhances catalytic efficiency and selectivity in organic synthesis. It is also employed in the development of advanced materials, including phosphorescent compounds for OLEDs, due to its electron-rich and rigid structure. Additionally, it finds applications in asymmetric catalysis, where it aids in producing chiral molecules for pharmaceuticals and fine chemicals. Its robust framework makes it suitable for high-temperature and demanding reaction conditions.