This chemical is primarily used in organic synthesis as an intermediate in the production of more complex molecules. It is particularly valuable in the development of pharmaceuticals and agrochemicals, where its structure allows for the introduction of specific functional groups. Additionally, it can be employed in the synthesis of liquid crystals, which are essential components in display technologies like LCDs. Its phosphorous-containing moiety also makes it a potential candidate for use in flame retardants, where it can enhance the fire resistance of materials.