Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antidiabetic agents. It plays a significant role in the preparation of SGLT2 inhibitors, which are used to manage type 2 diabetes by promoting glucose excretion through urine. Its structural features allow for selective modification, making it valuable in medicinal chemistry for optimizing drug potency and metabolic stability. Also employed in research settings for designing novel bioactive molecules and in agrochemicals for developing plant growth regulators.