This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of bioactive molecules. It serves as a key intermediate in the creation of various therapeutic agents, including those targeting neurological and psychiatric disorders. Its structure, featuring a piperazine ring and benzimidazole moiety, makes it valuable for designing compounds with potential antipsychotic, antidepressant, or anxiolytic properties. Additionally, it is explored in the development of drugs that interact with serotonin or dopamine receptors, which are critical in treating conditions like schizophrenia, depression, and anxiety. Its hydrochloride form enhances solubility, making it suitable for formulation studies and preclinical testing. Researchers also investigate its potential in designing novel antimicrobial or anticancer agents due to its versatile chemical framework.