This compound is primarily utilized in the field of organic synthesis, particularly as a chiral building block for the creation of complex molecules. Its unique stereochemistry makes it valuable in the development of pharmaceuticals, where precise molecular configurations are crucial for drug efficacy and safety. It is often employed in the synthesis of antiviral and anticancer agents, where its structure can be incorporated into the backbone of active pharmaceutical ingredients. Additionally, it serves as an intermediate in the production of fine chemicals and specialty materials, contributing to advancements in materials science and biotechnology. Its hydroxyl and hydroxymethyl groups provide reactive sites for further chemical modifications, enabling the creation of diverse derivatives with tailored properties.