This compound is primarily utilized in the field of organic synthesis as a chiral ligand or catalyst. Its unique structure, particularly the presence of the dioxaphosphepin ring and chiral centers, makes it highly effective in asymmetric catalysis. It is often employed in enantioselective reactions, such as hydrogenation, where it helps in producing chiral molecules with high enantiomeric purity. This is particularly valuable in the pharmaceutical industry for the synthesis of enantiomerically pure drugs, ensuring higher efficacy and reduced side effects. Additionally, its stability and ability to form complexes with transition metals make it a versatile tool in the development of new catalytic processes.