Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. Its phosphorus-containing structure enables selective binding to enzyme active sites, enhancing drug efficacy. Also employed in agrochemicals as a building block for herbicides due to its ability to interfere with plant metabolic pathways. Shows potential in coordination chemistry for catalyst design, especially in palladium-catalyzed reactions. Its zwitterionic nature improves solubility and bioavailability in drug formulations.