This compound is primarily utilized in the synthesis of nucleoside analogs, which are crucial in the development of antiviral and anticancer drugs. Its structural similarity to natural sugars makes it a valuable intermediate in the production of modified nucleosides that can inhibit viral replication or cancer cell growth. Additionally, it serves as a chiral building block in organic synthesis, enabling the creation of enantiomerically pure compounds for pharmaceutical applications. Its role in carbohydrate chemistry also extends to the study of enzyme mechanisms and the development of glycosidase inhibitors, which have potential therapeutic uses in treating metabolic disorders.