This compound is primarily utilized in organic synthesis as a reagent or intermediate. It is often employed in the preparation of phosphine oxide derivatives, which are valuable in the development of pharmaceuticals and agrochemicals. The compound's ability to act as a ligand in coordination chemistry makes it useful in catalytic processes, particularly in reactions involving transition metals. Additionally, its structural features allow it to participate in the synthesis of complex molecules, contributing to the creation of biologically active compounds. Its application in research and development highlights its role in advancing chemical and medicinal innovations.