This chemical is primarily utilized in the field of organic synthesis and material science. It serves as a key reagent in the preparation of complex organophosphorus compounds, which are essential in developing flame retardants, plasticizers, and ligands for metal catalysis. Its unique structure allows it to act as a bridging agent in coordination chemistry, facilitating the formation of stable metal complexes. Additionally, it is employed in the synthesis of biologically active molecules, particularly in the development of pharmaceuticals targeting bone-related disorders, due to its phosphate-like properties. Its application in nanotechnology is also notable, where it aids in the fabrication of nanostructured materials with specific electronic or optical properties.