This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its unique structure, featuring a dioxaphosphinane ring, makes it particularly valuable in the development of chiral molecules, which are essential for creating drugs with specific biological activities. Additionally, it is employed in the synthesis of phosphorus-containing compounds, which are widely used in agrochemicals and materials science. The compound's ability to act as a ligand in catalytic systems also enhances its application in asymmetric synthesis, enabling the production of enantiomerically pure substances.