Widely used as a ligand in transition metal catalysis, particularly in asymmetric hydrogenation reactions, enabling the production of chiral molecules in pharmaceuticals and fine chemicals. It plays a key role in cross-coupling reactions, such as Suzuki and Heck reactions, facilitating the formation of carbon-carbon bonds in organic synthesis. Its stable ferrocene backbone and electron-donating properties make it valuable in designing catalysts for polymerization processes. Additionally, it is employed in materials science for creating organometallic complexes with unique electronic and optical properties.