According to String#intern(), intern
method is supposed to return the String from the String pool if the String is found in String pool, otherwise a new string
On a recent project, some huge data structures were set up with data that was read in from a database (and hence not String constants/literals) but with a huge amount of duplication. It was a banking application, and things like the names of a modest set (maybe 100 or 200) corporations appeared all over the place. The data structures were already large, and if all those corp names had been unique objects they would have overflowed memory. Instead, all the data structures had references to the same 100 or 200 String objects, thus saving lots of space.
Another small advantage of interned Strings is that ==
can be used (successfully!) to compare Strings if all involved strings are guaranteed to be interned. Apart from the leaner syntax, this is also a performance enhancement. But as others have pointed out, doing this harbors a great risk of introducing programming errors, so this should be done only as a desparate measure of last resort.
The downside is that interning a String takes more time than simply throwing it on the heap, and that the space for interned Strings may be limited, depending on the Java implementation. It's best done when you're dealing with a known reasonable number of Strings with many duplications.