This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting specific enzymes or receptors in the body. Its structure is often incorporated into the design of potential drug candidates due to the presence of the benzimidazole core, which is known for its pharmacological properties. Researchers explore its derivatives for applications in treating conditions such as inflammation, infections, or cancer, leveraging its ability to interact with biological targets. Additionally, it may be used in the development of diagnostic agents or as a building block in organic synthesis for creating more complex chemical entities.