Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure allows for easy functionalization, making it valuable in creating nucleoside analogs. It is also employed in agrochemical synthesis for designing herbicides and pesticides due to its ability to interfere with metabolic pathways in target organisms. Additionally, it serves as a building block in the preparation of various heterocyclic compounds used in materials science and coordination chemistry.