This compound is primarily utilized in asymmetric catalysis, particularly in the synthesis of chiral molecules. Its unique structure, featuring a ferrocene backbone and a phosphine group, makes it an effective ligand in transition metal-catalyzed reactions, such as hydrogenation, cross-coupling, and allylic substitution. It is especially valued in the pharmaceutical industry for producing enantiomerically pure compounds, which are crucial for drug development. Additionally, its stability and selectivity make it a preferred choice in academic and industrial research for exploring new catalytic processes.