Used as an intermediate in organic synthesis, particularly in the preparation of phosphine ligands for catalytic reactions. It plays a role in the development of catalysts used in cross-coupling reactions, which are important in pharmaceutical and agrochemical manufacturing. Also serves as a building block in the synthesis of functionalized phosphine oxides with potential applications in materials science and as flame retardant additives. Its hydroxyl and phosphoryl groups allow for further chemical modifications, enabling tailored molecular design in research settings.