This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure, featuring a furan ring and a sulfinyl acetic acid moiety, makes it valuable for designing molecules with specific biological activities. It is often employed in the development of anti-inflammatory and antimicrobial agents due to its potential to interact with biological targets effectively. Additionally, it is explored in material science for creating novel polymers and coatings with enhanced properties. Researchers also investigate its role in catalysis, where it can act as a ligand or catalyst in asymmetric synthesis, contributing to the production of chiral compounds.