This compound is primarily used in the pharmaceutical and biotechnology industries as a key intermediate in the synthesis of various biologically active molecules. Its structure makes it valuable in the development of kinase inhibitors, which are important in targeting specific pathways involved in diseases such as cancer and inflammatory disorders. Additionally, it serves as a building block in the creation of nucleoside analogs, which are utilized in antiviral and anticancer therapies. Its role in medicinal chemistry highlights its significance in drug discovery and development processes.