This compound is primarily utilized in the field of asymmetric catalysis, particularly in the synthesis of chiral molecules. Its structure, featuring a diphenylphosphino group and a spirobiindane backbone, makes it an effective ligand for transition metal catalysts. These catalysts are employed in various enantioselective reactions, such as hydrogenation, carbon-carbon bond formation, and other transformations critical in pharmaceutical and fine chemical industries. The chiral environment created by this ligand ensures high selectivity and efficiency in producing optically active compounds, which are essential for developing drugs and other bioactive molecules. Its application is particularly valuable in the production of intermediates for active pharmaceutical ingredients (APIs) where chirality plays a crucial role in the efficacy and safety of the final product.