This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of modified nucleosides, which are crucial for developing antiviral and anticancer drugs. The fluorine and methyl groups at the 2' position enhance the stability and bioavailability of the resulting nucleoside analogs, making them more effective in targeting viral replication or cancer cell proliferation. Additionally, the dibenzoate protection at the 3' and 5' positions allows for selective deprotection and further functionalization, enabling the creation of diverse therapeutic agents. Its application is particularly significant in the design of prodrugs and nucleotide analogs used in treatments for diseases like hepatitis C and certain types of cancer.