Used as an intermediate in organic synthesis, particularly in the preparation of phosphorus-containing compounds for flame retardants and ligands in catalysis. It serves in the development of specialty chemicals, including agrochemicals and pharmaceuticals, due to its reactivity in forming P–C and P–O bonds. Also employed in the synthesis of perovskite precursors for optoelectronic materials. Its role as a reducing agent and nucleophile makes it valuable in industrial and research laboratories for constructing complex molecules.