Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various benzimidazole derivatives. These derivatives are explored for their potential therapeutic properties, including anti-parasitic, anti-viral, and anti-cancer activities. Its structural framework is particularly valuable in designing molecules that can interact with biological targets, making it a significant component in drug discovery and development processes. Additionally, it is utilized in the study of enzyme inhibition mechanisms, contributing to the understanding of biochemical pathways and the development of enzyme inhibitors.