This compound is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its structure, featuring a diphenylphosphine group and an oxazole ring, makes it effective in coordinating with metals like rhodium, iridium, or palladium to form highly enantioselective catalysts. These catalysts are widely employed in the synthesis of chiral molecules, which are crucial in the pharmaceutical industry for producing enantiomerically pure drugs. Additionally, it finds application in organic synthesis for constructing complex molecular architectures with high stereochemical control, such as in asymmetric hydrogenation, allylic alkylation, and cross-coupling reactions. Its steric and electronic properties enhance selectivity and yield in these processes, making it a valuable tool in modern synthetic chemistry.