This chemical is primarily utilized as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. It plays a crucial role in enantioselective synthesis, enabling the production of chiral compounds with high optical purity. Its application is significant in the pharmaceutical industry for the synthesis of enantiomerically pure drugs, where the specific spatial arrangement of atoms can greatly influence the drug's efficacy and safety. Additionally, it is employed in the synthesis of fine chemicals and agrochemicals, where the control of stereochemistry is essential for the desired biological activity. The unique ferrocene backbone and phosphine groups in this ligand contribute to its stability and effectiveness in various catalytic processes, including hydrogenation, cross-coupling, and carbon-carbon bond formation reactions.