Used primarily as an intermediate in organic synthesis, especially in the preparation of pharmaceuticals and fine chemicals. Its reactivity makes it valuable for introducing the 2,2-diphenylpropanoyl group into larger molecules, aiding in the development of active pharmaceutical ingredients. Commonly employed in acylation reactions, it helps form esters and amides under controlled conditions. Due to the presence of bulky phenyl groups, it can influence stereoselectivity in reactions, making it useful in asymmetric synthesis. Also utilized in the manufacture of specialty polymers and UV stabilizers where steric hindrance enhances material performance. Requires careful handling due to its moisture sensitivity and corrosive nature.