Used as a key intermediate in the synthesis of organophosphorus compounds, particularly in the development of ligands for catalytic systems. It plays a significant role in asymmetric catalysis, aiding in the production of enantioselective products in pharmaceutical and fine chemical industries. Additionally, it is employed in the preparation of phosphine-based materials for use in organic electronics and coordination chemistry. Its reactivity with transition metals makes it valuable in creating metal complexes for various industrial applications.