Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure supports the formation of biologically active benzimidazole derivatives, which are known for their interaction with enzymes and receptors in therapeutic applications. Also employed in the preparation of dyes and fluorescent compounds due to its aromatic and amino-carboxylic functionality. Commonly utilized in research settings for designing novel heterocyclic compounds with potential medicinal properties.