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 in the creation of complex molecular frameworks. It is often employed in asymmetric catalysis, where it aids in the formation of chiral compounds with high enantioselectivity. Additionally, it finds application in the synthesis of phosphorous-containing compounds, which are crucial in the production of flame retardants, agrochemicals, and bioactive molecules. Its role in these processes underscores its importance in both industrial and academic research settings.