Used as a ligand in transition metal-catalyzed reactions, particularly in palladium-catalyzed cross-coupling reactions. Its phosphine group coordinates effectively with metals, enhancing catalytic activity and stability. Commonly applied in Suzuki and Heck reactions for forming carbon-carbon bonds in organic synthesis. The ester group allows for further functionalization or modification, making it useful in the development of pharmaceuticals and fine chemicals. Also employed in the design of catalysts for asymmetric synthesis due to its tunable electronic and steric properties.