Used as a key intermediate in the synthesis of bioactive phosphonate compounds, particularly in pharmaceuticals and agrochemicals. Its structure allows for the introduction of phosphonate groups into larger molecules, facilitating the development of enzyme inhibitors and antiviral agents. Commonly employed in Horner-Wadsworth-Emmons reactions for olefination, enabling the formation of carbon-carbon double bonds in complex organic molecules. Also utilized in medicinal chemistry for designing protease inhibitors and other targeted therapeutics.