This compound is primarily utilized in organic synthesis as a reagent for the preparation of various heterocyclic compounds. It serves as a key intermediate in the synthesis of benzimidazole derivatives, which are important in the development of pharmaceuticals, particularly for their antimicrobial and antifungal properties. Additionally, it is employed in the production of compounds used in research and development for potential therapeutic agents targeting specific enzymes or biological pathways. Its application extends to the field of medicinal chemistry, where it aids in the creation of novel drug candidates with improved efficacy and selectivity.