Used as a key intermediate in organic synthesis, particularly in the preparation of phosphonate-based compounds with biological activity. It plays an important role in the Horner-Wadsworth-Emmons reaction, enabling the formation of carbon-carbon double bonds, which is valuable in synthesizing pharmaceuticals, agrochemicals, and fine chemicals. Its derivatives are explored for antiviral and anticancer properties due to their ability to mimic phosphate esters in metabolic pathways. Also employed in the development of novel ligands for catalysis and in materials science for modifying surface properties.