This chemical is primarily utilized in organic synthesis as a key intermediate for the preparation of various biologically active compounds. It is often employed in the synthesis of phosphonate derivatives, which are valuable in medicinal chemistry for developing enzyme inhibitors and antiviral agents. Additionally, it serves as a building block in the creation of agrochemicals, particularly in the design of herbicides and pesticides. Its role in the production of flame retardants is also noteworthy, contributing to enhancing the safety of materials. Furthermore, it is used in research laboratories for studying phosphorylation reactions and developing novel synthetic methodologies.