Used as a chiral ligand in asymmetric synthesis, particularly in catalytic hydrogenation reactions. It facilitates the production of enantiomerically pure compounds, which are crucial in pharmaceutical manufacturing. The compound's structure allows for precise control over the stereochemistry of the reaction, enhancing the efficiency and selectivity of the process. It is also employed in the synthesis of complex organic molecules, where its phospholane ring system contributes to the stabilization of transition states, leading to higher yields and better product quality.