This chemical is primarily utilized in organic synthesis as a phosphonylating agent, particularly in the modification of biomolecules. It is often employed in the preparation of phosphonate esters, which are crucial intermediates in the development of pharmaceuticals and bioactive compounds. Its benzyl-protected phosphoryl group allows for selective deprotection, making it valuable in controlled reactions. Additionally, it finds use in the synthesis of prodrugs and in peptide chemistry, where it aids in the introduction of phosphonate groups to enhance solubility or biological activity. Its application extends to materials science, where it contributes to the development of functionalized polymers and surfaces.