Used as a ligand in transition metal catalysis, particularly in cross-coupling reactions to form carbon-carbon and carbon-heteroatom bonds. It is also applied in the synthesis of pharmaceuticals and fine chemicals due to its ability to stabilize metal complexes and enhance catalytic activity. Additionally, it serves as a building block in the development of advanced materials, such as metal-organic frameworks (MOFs), which are utilized in gas storage, separation, and catalysis. Its phosphine and carboxylic acid functional groups make it versatile for coordination chemistry and surface modification applications.