This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its application is significant in the synthesis of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for producing drugs with high stereochemical precision. The compound's structure, featuring dimethoxybiphenyl and di-2-furylphosphine groups, enhances its ability to induce chirality in catalytic processes, making it valuable for reactions like hydrogenation, cross-coupling, and allylic substitution. Its use contributes to the development of more efficient and selective synthetic routes for complex organic molecules.