This compound is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its unique structure, combining ferrocene and phosphine groups, allows it to effectively induce chirality in products, making it valuable in the synthesis of enantiomerically pure compounds. It is commonly applied in hydrogenation, cross-coupling, and carbon-carbon bond-forming reactions, where high enantioselectivity is required. Its use is prominent in pharmaceutical and fine chemical industries for producing chiral intermediates and active pharmaceutical ingredients (APIs) with high optical purity. Additionally, its stability and versatility make it a preferred choice for researchers developing new catalytic processes.