This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of nucleoside analogs, which are crucial for developing antiviral and anticancer drugs. Its unique stereochemistry and functional groups make it a valuable building block for constructing biologically active compounds. Additionally, it is used in carbohydrate chemistry for the preparation of modified sugars, which are essential in studying biochemical pathways and designing enzyme inhibitors. Its role in these applications highlights its importance in medicinal chemistry and drug development.