This compound is primarily used in organic synthesis as a chiral building block for the production of more complex molecules. Its structure features a cyclopentene ring with a free hydroxyl group at C1 and a benzyloxymethyl substituent at C2, providing a benzyl-protected hydroxymethyl group. This makes it valuable in the synthesis of pharmaceuticals, particularly in the development of drugs that require specific stereochemistry at the (1R,2S) chiral centers. It is also employed in the preparation of natural products and bioactive compounds, where these chiral centers play a crucial role in achieving the desired biological activity. Additionally, it serves as an intermediate in the synthesis of fine chemicals and agrochemicals, contributing to the development of compounds with enhanced efficacy and selectivity.