Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with antimicrobial, anticancer, and anti-inflammatory properties. Additionally, it plays a role in the preparation of benzimidazole derivatives, which are widely studied for their potential in treating infections and other medical conditions. Its application extends to organic synthesis, where it aids in constructing complex molecular structures for further chemical exploration.