This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It plays a crucial role in facilitating enantioselective transformations, such as hydrogenation, carbon-carbon bond formation, and other stereospecific reactions. Its unique structure, featuring a binaphthalene backbone and a diphenylphosphino group, allows it to effectively coordinate with metal centers, enhancing the selectivity and efficiency of the catalytic process. This makes it valuable in the synthesis of chiral intermediates and active pharmaceutical ingredients (APIs) in the pharmaceutical industry. Additionally, it is employed in academic research to develop new catalytic methodologies and explore asymmetric synthesis pathways.