This compound is primarily utilized in the field of organic synthesis, particularly as a chiral ligand or catalyst in asymmetric reactions. Its unique structure, featuring a dihydrobenzooxaphosphole core, makes it effective in promoting enantioselective transformations, such as hydrogenation or carbon-carbon bond-forming reactions. It is often employed in the pharmaceutical industry to synthesize enantiomerically pure compounds, which are crucial for developing drugs with high specificity and reduced side effects. Additionally, its tert-butyl and dicyclopentyl groups enhance steric hindrance, improving selectivity in catalytic processes. This chemical is also explored in material science for designing advanced chiral materials with potential applications in optoelectronics or sensors.