Used as a corrosion inhibitor in industrial water treatment systems, helping to protect metal surfaces in cooling towers and boilers. Also serves as an intermediate in the synthesis of specialty phosphonate compounds for pharmaceuticals and agrochemicals. Its structure allows chelation of metal ions, making it useful in detergent formulations and scale prevention in oilfield applications. Additionally, it has been explored in research for its potential role in modifying enzyme activity due to its phosphate-like group.