This chemical is primarily utilized as a ligand in catalytic processes, particularly in transition metal-catalyzed reactions. Its structure, featuring a phosphine group and an aldehyde moiety, makes it effective in facilitating cross-coupling reactions, such as Suzuki-Miyaura and Heck reactions, which are crucial in organic synthesis for creating complex molecules. Additionally, it is employed in asymmetric catalysis, where it helps in producing chiral compounds with high enantioselectivity, important in pharmaceuticals and fine chemicals. Its stability and electronic properties also make it suitable for use in coordination chemistry and material science research.