Used as an intermediate in the synthesis of organophosphorus compounds, particularly in the preparation of phosphate esters and phosphonates. It serves in the development of flame retardants, plasticizers, and stabilizers for polymers. Commonly employed in pharmaceutical and agrochemical synthesis due to its reactivity with alcohols and phenols to form phosphite esters. Also utilized in the preparation of ligands for catalysts in organic transformations. Handles under inert atmosphere due to moisture sensitivity.