This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various benzimidazole derivatives, which are known for their broad spectrum of biological activities. These derivatives are often explored for their potential as therapeutic agents, particularly in the treatment of infections caused by bacteria, viruses, and parasites. Additionally, the compound is used in the development of inhibitors targeting specific enzymes or proteins involved in disease pathways. Its role in medicinal chemistry is crucial for the creation of novel drugs with improved efficacy and safety profiles.