This chemical is widely used as a ligand in coordination chemistry, particularly in the formation of metal complexes. It is highly effective in catalytic processes, such as hydrogenation, hydroformylation, and carbonylation reactions, due to its ability to stabilize transition metals and enhance their reactivity. In organic synthesis, it plays a crucial role in facilitating cross-coupling reactions, including Suzuki and Heck reactions, which are essential for constructing complex organic molecules. Additionally, it is utilized in the development of advanced materials, such as luminescent compounds and polymers, where its phosphine groups contribute to unique electronic properties. Its application in asymmetric catalysis is also notable, enabling the production of chiral compounds with high enantioselectivity, which are valuable in pharmaceuticals and fine chemicals.