Used as a chiral building block in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its acetonide-like structure protects carbonyl groups during multistep syntheses, allowing selective reactions at other functional sites. The hydroxyl group enables further derivatization, such as esterification or ether formation, making it valuable in constructing complex molecules. Commonly employed in the synthesis of bioactive compounds, including antiviral and antitumor agents, due to its ability to introduce stereochemical control.