This chemical is primarily used in the synthesis of nucleosides and nucleotides, which are crucial building blocks for DNA and RNA. It serves as a protected intermediate in the preparation of arabinofuranosyl derivatives, which are essential in the development of antiviral and anticancer drugs. The benzyl groups provide stability during chemical reactions, allowing for selective modifications to the arabinofuranosyl ring. This compound is particularly valuable in medicinal chemistry for creating analogs of natural nucleosides, which can be used to inhibit viral replication or target cancer cells. Its role in the synthesis of bioactive molecules makes it a key reagent in pharmaceutical research and drug discovery.