It is primarily used in organic synthesis as a reagent for creating complex molecules, particularly in the formation of carbon-phosphorus bonds. This compound is valuable in the development of pharmaceuticals and agrochemicals, where it aids in the introduction of phosphine oxide groups into target molecules. Additionally, it serves as a key intermediate in the preparation of ligands for catalysis, enhancing the efficiency of various chemical reactions. Its role in polymer chemistry is also notable, contributing to the modification of polymer properties for specialized applications.