Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a stabilizer or derivatizing agent in certain chemical reactions due to its sulfonate group, which can enhance solubility in polar solvents. Also employed in the development of sulfonate-based catalysts or ligands for metal-catalyzed reactions. Its structure allows for easy modification, making it useful in research settings for designing new compounds with specific reactivity or functional properties.