Used as a substrate in enzymatic assays, particularly for measuring alkaline phosphatase activity in biochemical and clinical diagnostics. Serves as a phosphate donor in kinase and phosphorylase enzyme studies. Commonly included in cell culture media to support osteogenic differentiation of stem cells by promoting mineralization. Employed in buffer systems where a soluble phosphate source is required. Also utilized in protein purification processes and in the synthesis of phosphate-containing compounds.