This compound is primarily utilized in the field of asymmetric synthesis and catalysis, particularly in the development of chiral ligands for transition metal catalysts. Its unique structure, featuring a dihydrobenzo[d][1,3]oxaphosphole core, makes it highly effective in facilitating enantioselective reactions, which are crucial for producing optically active compounds in pharmaceuticals and fine chemicals. Additionally, it has shown promise in the synthesis of complex organic molecules, where its steric and electronic properties enhance selectivity and yield in challenging transformations. Its application extends to the preparation of advanced materials, where its chiral environment can influence the properties of the resulting products.