Used as a ligand in catalysis, particularly in transition metal-catalyzed reactions such as hydrogenation, hydroformylation, and cross-coupling reactions. Its ability to coordinate with metals enhances reaction efficiency and selectivity.

Applied in the synthesis of pharmaceuticals and fine chemicals, where it aids in the formation of complex molecular structures.

Also employed in the development of new materials, including polymers and coordination complexes, due to its versatile binding properties.

In research, it serves as a key component in studying reaction mechanisms and designing novel catalytic systems.