This compound is primarily used in organic synthesis as a chiral building block for the production of pharmaceuticals and fine chemicals. Its structure, featuring a benzyl-protected hydroxyl group, makes it valuable in asymmetric synthesis, particularly in the development of enantiomerically pure drugs. It is often employed in the synthesis of complex molecules where stereochemistry plays a critical role in biological activity. Additionally, it serves as an intermediate in the preparation of bioactive compounds, such as antiviral agents and enzyme inhibitors, due to its ability to introduce specific stereocenters into target molecules. Its utility in medicinal chemistry and drug discovery highlights its importance in the development of therapeutic agents.