Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its aldehyde and dioxolane functional groups allow for selective reactions, making it valuable in constructing complex molecules. Commonly employed in the synthesis of bioactive compounds, including antiviral and antitumor agents. Also utilized in the development of fragrances and flavoring agents due to its reactivity in forming carbon-carbon bonds. Serves as a building block in asymmetric synthesis and in the preparation of heterocyclic compounds.