Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the synthesis of benzimidazole derivatives, which are essential in creating drugs with antifungal, antiviral, and anticancer properties. Additionally, it plays a role in the development of agrochemicals, contributing to the formulation of pesticides and herbicides. Its reactivity with other organic compounds makes it a versatile reagent in research laboratories for constructing complex molecules.