This chemical is primarily utilized in the field of organic synthesis, particularly in the preparation of nucleoside analogs. It serves as a key intermediate in the development of antiviral and anticancer drugs, where its structure is modified to enhance therapeutic efficacy. Additionally, it is employed in carbohydrate chemistry for the synthesis of complex sugar derivatives, which are essential in studying biological processes and developing new pharmaceuticals. Its role in these applications highlights its importance in advancing medicinal chemistry and drug discovery.