This chemical is primarily utilized in the field of organic synthesis, particularly in the development of advanced materials and pharmaceuticals. Its unique structure makes it a valuable intermediate for creating complex molecules with specific optical and electronic properties. It is often employed in the synthesis of chiral compounds, where its stereochemistry plays a crucial role in achieving high enantioselectivity. Additionally, it finds application in the preparation of phosphorous-containing polymers, which are used in flame retardants and specialty coatings. Its ability to act as a ligand in catalytic systems also makes it useful in asymmetric catalysis, enhancing the efficiency of various chemical transformations.