This compound is primarily utilized in asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal complexes. Its structure, featuring two phenyl groups and benzyl substituents, makes it highly effective in enantioselective reactions, such as hydrogenation and carbon-carbon bond formation. It is often employed in pharmaceutical research to produce optically active intermediates, enhancing the efficiency and selectivity of drug synthesis. Additionally, its role in organometallic chemistry contributes to the advancement of materials science and fine chemical manufacturing.