Used as an intermediate in organic synthesis, particularly in the preparation of biologically active compounds. It plays a role in the development of pharmaceuticals, including potential anticancer agents, due to its ability to introduce phosphonate groups into molecules. Additionally, it is utilized in the synthesis of peptidomimetics, which mimic peptides and are valuable in drug discovery. Its application extends to agrochemical research, where it aids in creating novel pesticides and herbicides. The compound’s reactivity makes it a useful tool in constructing complex molecular structures for various industrial and scientific purposes.