This compound is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its unique structure enables it to induce high enantioselectivity in various organic transformations, such as hydrogenation, hydroformylation, and cross-coupling reactions. The chiral environment created by the phospholane ring and the phenyl groups facilitates the production of optically active compounds, which are crucial in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. Its application is especially prominent in the synthesis of chiral alcohols, amines, and other intermediates with high stereochemical purity. Additionally, it is used in research and development to explore new catalytic processes and improve the efficiency of existing ones.