This chemical is primarily used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It is highly effective in facilitating enantioselective transformations, such as hydrogenation, carbon-carbon bond formation, and other stereospecific reactions. Its ferrocene backbone and diphenylphosphine groups provide excellent stability and selectivity, making it valuable in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, its ability to induce high enantiomeric excess in products makes it a preferred choice for producing optically active compounds in industrial and academic research settings.