Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It plays a role in the preparation of compounds with potential biological activity, such as antiviral and anticancer agents. Additionally, it is employed in the synthesis of α,β-unsaturated carbonyl compounds via the Horner-Wadsworth-Emmons reaction, which are valuable in various chemical reactions. Its phosphonate group makes it useful in creating phosphorus-containing molecules, which are important in medicinal chemistry and material science.