This chemical is primarily used in catalysis, particularly in organic synthesis. It serves as a highly efficient catalyst in various gold-catalyzed reactions, such as cyclization, hydration, and hydroamination processes. Its unique structure, featuring a bulky phosphine ligand, enhances stability and selectivity, making it suitable for complex transformations. It is often employed in the synthesis of pharmaceutical intermediates and fine chemicals, where precision and control are critical. Additionally, it is utilized in materials science for the preparation of specialized polymers and advanced materials. Its application in asymmetric catalysis is also notable, enabling the production of chiral molecules with high enantiomeric purity.