This compound is primarily utilized in the field of organic synthesis, particularly as a chiral ligand or catalyst in asymmetric reactions. Its unique structure, featuring a bibenzooxaphosphole framework, makes it effective in facilitating enantioselective transformations, which are crucial for producing chiral molecules with high optical purity. It is often employed in the synthesis of pharmaceuticals and fine chemicals, where achieving specific stereochemistry is essential for biological activity. Additionally, its tert-butyl groups provide steric hindrance, enhancing selectivity in catalytic processes. This chemical is also explored in materials science for developing advanced chiral materials or polymers with specific optical properties.