Used as a key intermediate in the synthesis of fluorinated pharmaceuticals, particularly in the production of certain antidiabetic and antiviral agents. Its structure allows for selective modification in active drug molecules, enhancing metabolic stability and bioavailability. Commonly employed in asymmetric synthesis due to the presence of a chiral hydroxy center, enabling the development of enantiomerically pure compounds. Also utilized in agrochemical research for designing novel pesticides with improved environmental persistence and target specificity.