Used as an intermediate in organic synthesis, particularly in the preparation of phosphonate-based compounds with biological activity. It serves in the development of pharmaceuticals and agrochemicals due to its ability to mimic phosphate esters in metabolic pathways. Also employed in Horner-Wadsworth-Emmons reactions for the synthesis of olefins, especially in the production of complex molecules like natural products and active pharmaceutical ingredients. Its lipophilic character enhances cell membrane permeability in prodrug designs.