This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a chiral building block, enabling the creation of enantiomerically pure drugs, which are crucial for ensuring the efficacy and safety of medications. Its structure is often exploited in the development of antiviral and anticancer agents, where precise stereochemistry is essential for biological activity. Additionally, it finds use in carbohydrate chemistry for the preparation of modified sugars, which are important in the study of glycosylation processes and the development of glycosidase inhibitors. Its versatility in organic synthesis makes it a valuable intermediate in the production of various bioactive compounds.