Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of antiviral and anticancer drugs. It plays a crucial role in the production of nucleoside analogs, which are essential for treating viral infections like HIV and hepatitis. Additionally, it is employed in the creation of agrochemicals, including herbicides and fungicides, to enhance crop protection. Its reactivity and structural properties make it valuable in organic synthesis for constructing complex molecules in medicinal and agricultural chemistry.