This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various heterocyclic compounds, which are often explored for their potential biological activities. Its structure makes it valuable in the synthesis of benzimidazole derivatives, which are known for their applications in medicinal chemistry, particularly in the design of drugs targeting specific enzymes or receptors. Additionally, it may be used in the preparation of dyes or fluorescent markers due to its aromatic and heterocyclic nature, making it useful in biochemical and analytical studies.