Used as a key intermediate in organic synthesis, particularly in the preparation of phosphonate-based compounds with biological activity. It plays a role in the development of pharmaceuticals and agrochemicals due to its ability to participate in Horner-Wadsworth-Emmons olefination reactions, enabling the formation of carbon-carbon double bonds. Its nitro group allows for further functionalization, making it valuable in the synthesis of complex molecules, including potential enzyme inhibitors and bioactive analogs.