This chemical is widely used in organic synthesis as a protected form of ribose, a key component in the production of nucleosides and nucleotides. Its acetyl and benzoate groups provide stability during complex reactions, making it a valuable intermediate in the synthesis of pharmaceuticals, particularly antiviral and anticancer drugs. Additionally, it serves as a precursor in the development of modified RNA and DNA analogs, which are essential in genetic research and therapeutic applications. Its role in carbohydrate chemistry also extends to the preparation of glycoconjugates, which are important in studying biological processes and developing targeted drug delivery systems.