This compound is primarily utilized in the field of pharmaceutical research and development due to its benzimidazole moiety, which is known for its biological activity. It serves as a key intermediate in the synthesis of various therapeutic agents, particularly those targeting parasitic infections and certain types of cancers. Its structural properties make it valuable for designing inhibitors that can interact with specific enzymes or receptors, potentially leading to the development of new drugs. Additionally, it may be explored in the creation of antimicrobial agents, given the broad-spectrum activity associated with benzimidazole derivatives. Its applications extend to materials science, where it could be used in the development of organic compounds with specific electronic or optical properties.