Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiparasitic and antifungal agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating derivatives with biological activity. Commonly employed in the preparation of benzimidazole-based drugs that target tubulin proteins, disrupting cell division in pathogens. Also utilized in agrochemical research for developing new crop protection agents due to its reactivity and ability to form stable bonds with various nucleophiles.