This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting enzyme inhibition or receptor modulation. Its structure is often incorporated into the design of potential anticancer, antiviral, or antimicrobial agents due to the presence of the benzimidazole core, which is known for its broad pharmacological properties. Researchers also explore its derivatives for their potential in treating infections and inflammatory diseases. Additionally, it is studied for its role in developing novel therapeutic compounds that can interact with DNA or RNA, making it valuable in the development of targeted therapies.