This chemical is widely used as a ligand in transition metal catalysis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its sterically demanding and electron-rich structure enhances the stability and reactivity of the metal complexes, making it valuable in synthesizing pharmaceuticals and fine chemicals. Additionally, it is employed in asymmetric catalysis to produce chiral compounds, which are crucial in drug development and agrochemicals. Its robustness under various reaction conditions also makes it suitable for industrial-scale applications.