This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various phosphorous-containing organic molecules. Its unique structure, featuring a dihydrobenzooxaphosphole ring, makes it particularly useful in the development of ligands for catalytic processes, especially in asymmetric synthesis. Additionally, it has shown potential in the creation of novel materials with specific electronic or optical properties, owing to its ability to influence the electronic environment of the molecules it is incorporated into. Researchers also explore its application in medicinal chemistry, where it can be used to design and synthesize new drug candidates with targeted biological activities.