This chemical is widely used as a chiral ligand in asymmetric catalysis, particularly in hydrogenation reactions. It plays a crucial role in the synthesis of enantiomerically pure compounds, which are essential in the pharmaceutical industry for producing drugs with high specificity and reduced side effects. Additionally, it is employed in the development of advanced materials and fine chemicals, where precise control over molecular structure is required. Its unique ferrocene-based structure enhances stability and reactivity, making it a valuable tool in organic synthesis and industrial applications.