Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of nucleoside analogs, which are crucial for antiviral and anticancer drugs. Additionally, it is employed in the modification of nucleic acids, aiding in the study of genetic material and the development of gene therapy techniques. Its stability and reactivity make it a versatile building block in the synthesis of complex organic molecules.