This chemical is primarily used in organic synthesis, particularly in the preparation of complex carbohydrate derivatives. It serves as a key intermediate in the synthesis of nucleosides, nucleotides, and other biologically active compounds. Its structure, featuring a protected diol and a benzyloxy group, makes it valuable for selective functionalization in multi-step synthetic routes. It is often employed in the pharmaceutical industry for the development of antiviral and anticancer drugs, where precise control over stereochemistry is crucial. Additionally, it finds application in the synthesis of glycosides and glycoconjugates, which are important in studying biological processes and developing therapeutic agents.