Used as a key intermediate in organic synthesis, particularly in the preparation of biologically active compounds. It serves as a building block in the synthesis of phosphonate-based inhibitors, which are important in medicinal chemistry for targeting enzymes such as proteases and phosphatases. Commonly employed in Horner-Wadsworth-Emmons reactions to form α,β-unsaturated carbonyl compounds, enabling the development of complex molecules in pharmaceutical and agrochemical research. Its structural features allow for the introduction of phenyl and carbonyl functionalities, making it valuable in the design of novel therapeutic agents.