This chemical is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic hydrogenation reactions. Its unique structure, featuring two phospholane rings, allows it to effectively induce chirality in the resulting products, making it valuable in the production of enantiomerically pure compounds. It is often employed in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals, where high enantioselectivity is crucial. Additionally, its stability and efficiency in various reaction conditions make it a preferred choice for industrial and academic research in the field of asymmetric catalysis.