This compound is primarily utilized in asymmetric catalysis, particularly in chiral synthesis processes. It serves as a ligand in transition metal-catalyzed reactions, enabling the production of enantiomerically pure compounds. Its application is significant in the pharmaceutical industry, where it aids in the synthesis of chiral drugs, ensuring high enantioselectivity and yield. Additionally, it is employed in organic synthesis for constructing complex molecular architectures with precise stereochemistry. Its ferrocene backbone and phosphine group contribute to its stability and effectiveness in various catalytic systems.