Widely used as a ligand in catalytic processes, particularly in transition metal-catalyzed reactions such as cross-coupling, hydrogenation, and hydroformylation. Its unique structure enhances the stability and activity of metal complexes, making it valuable in organic synthesis. Additionally, it plays a role in the development of advanced materials, including coordination polymers and supramolecular assemblies, due to its ability to form stable complexes with various metals. In industrial applications, it contributes to the efficient production of fine chemicals and pharmaceuticals by improving catalyst performance and selectivity.