Used primarily in organic synthesis, it serves as a key reagent for introducing phosphorus-containing groups into molecules. It is particularly valuable in the preparation of phosphine ligands, which are essential in catalysis, especially in transition metal-catalyzed reactions. Additionally, it finds application in the synthesis of organophosphorus compounds, which are utilized in flame retardants, plasticizers, and agrochemicals. Its reactivity with various organic substrates makes it a versatile tool in the development of pharmaceuticals and specialty chemicals.