This chemical is widely used 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 optically active compounds in pharmaceuticals and fine chemicals. Its application is prominent in hydrogenation, carbon-carbon bond formation, and other asymmetric transformations. The compound's ferrocene backbone and diphenylphosphino groups provide excellent stability and selectivity, making it a valuable tool in organic synthesis and industrial processes.