Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting cardiovascular diseases and certain types of cancer. Additionally, it finds application in the synthesis of benzimidazole derivatives, which are known for their antimicrobial and antifungal properties. Researchers also utilize it in the study of enzyme inhibitors, aiding in the discovery of new therapeutic agents. Its role in medicinal chemistry is significant, contributing to the advancement of treatments for complex health conditions.