Used in biochemical research as a reagent for the detection and analysis of sugars, particularly in the study of carbohydrate metabolism. It aids in the identification of specific sugar derivatives through its ability to form stable complexes with certain sugar molecules. This compound is also utilized in the synthesis of nucleoside analogs, which are important in the development of antiviral and anticancer drugs. Additionally, it serves as a building block in organic synthesis for creating complex molecules with potential pharmaceutical applications. Its role in studying enzyme mechanisms and pathways related to ribose metabolism is also noteworthy.