This chemical is widely used as a ligand in coordination chemistry and catalysis. Its ability to form stable complexes with transition metals makes it valuable in various catalytic processes, such as cross-coupling reactions, hydrogenation, and carbonylation. It is particularly effective in palladium-catalyzed reactions, where it enhances the efficiency and selectivity of the catalyst. Additionally, it finds applications in organic synthesis, where it aids in the formation of carbon-phosphorus bonds. Its role in stabilizing metal complexes also makes it useful in the development of advanced materials and in the study of organometallic chemistry.