This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting neurological and cardiovascular disorders. Its structure allows it to act as a precursor in the production of compounds that modulate neurotransmitter activity, making it valuable in the creation of medications for conditions like depression, anxiety, and hypertension. Additionally, it finds application in organic chemistry research as a building block for the preparation of complex molecules, aiding in the exploration of new therapeutic agents. Its sulfonate group enhances solubility, facilitating its use in various reaction conditions and formulations.