This compound is primarily utilized in organic synthesis as a reagent for the Wittig reaction, which is a key method for forming alkenes by reacting with aldehydes or ketones. It is particularly effective in the synthesis of α,β-unsaturated esters, which are important intermediates in the production of various pharmaceuticals, agrochemicals, and fine chemicals. Additionally, it can be employed in the preparation of complex organic molecules, including natural products, due to its ability to facilitate carbon-carbon bond formation. Its stability and reactivity make it a valuable tool in the development of novel compounds with potential applications in medicinal chemistry and materials science.