This chemical is primarily used in the synthesis of nucleoside analogs, which are crucial in the development of antiviral and anticancer drugs. Its structure allows it to serve as a key intermediate in the modification of ribose molecules, enabling the creation of compounds that can interfere with viral replication or cancer cell growth. Additionally, it is employed in organic chemistry research for the preparation of complex carbohydrates and glycoconjugates, which have applications in studying biological processes and developing therapeutic agents. Its role in protecting functional groups during synthetic processes also makes it valuable in the production of fine chemicals and pharmaceuticals.