Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows it to participate in reactions that form more complex molecules, particularly those with potential biological activity. It is also explored in research for developing new drugs, especially in areas like antimicrobial and antifungal agents. Additionally, it may be utilized in the study of chemical reactions involving benzimidazole derivatives, which are significant in medicinal chemistry.