This chemical is primarily used as a chiral ligand in asymmetric catalysis, particularly in transition metal-catalyzed reactions. Its application is significant in the synthesis of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for producing drugs with high specificity and reduced side effects. The compound is often employed in asymmetric hydrogenation, carbon-carbon bond formation, and other stereoselective transformations. Its ferrocene backbone and diphenylphosphino group provide excellent stability and selectivity, making it a valuable tool in organic synthesis for creating complex molecules with precise stereochemistry.