This compound is widely used as a ligand in catalysis, particularly in transition metal-catalyzed reactions. It enhances the stability and efficiency of metal catalysts in various organic transformations, such as hydrogenation, carbonylation, and cross-coupling reactions. Its unique structure, combining a phosphine group with a sulfonate moiety, makes it highly soluble in water, enabling its use in aqueous-phase catalytic processes. This property is especially valuable in green chemistry applications, where water is preferred as a solvent to reduce environmental impact. Additionally, it is employed in the synthesis of fine chemicals and pharmaceuticals, where its ability to stabilize metal complexes under mild conditions is advantageous. Its application extends to materials science, where it is used to modify surfaces and create functionalized materials with specific properties.