This chemical is primarily used as a ligand in various catalytic processes, particularly in transition metal catalysis. It plays a significant role in facilitating cross-coupling reactions, which are essential in organic synthesis for constructing complex molecular structures. Additionally, it is employed in the development of pharmaceuticals and fine chemicals due to its ability to stabilize metal centers and enhance reaction efficiency. Its sterically demanding structure makes it suitable for selective transformations in asymmetric synthesis, contributing to the production of chiral compounds.