Used as a key reagent in organic synthesis, particularly in the preparation of phosphonate esters for pharmaceuticals and agrochemicals. It serves as a building block in the synthesis of bioactive molecules, including antiviral and anticancer agents, due to its ability to introduce phosphonate groups that mimic phosphate esters in metabolic pathways. Also employed in the Horner-Wadsworth-Emmons reaction for the formation of α,β-unsaturated esters and carbonyl compounds. Its reactivity makes it valuable in creating carbon-phosphorus bonds in specialty chemicals and enzyme inhibitors.