This compound is primarily used in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure, featuring a benzoimidazole core, makes it valuable for designing compounds with potential therapeutic applications, particularly in the development of enzyme inhibitors or receptor modulators. It is often utilized in medicinal chemistry to create derivatives that may exhibit anti-inflammatory, anticancer, or antimicrobial properties. Additionally, its carboxylic acid group allows for further chemical modifications, enabling the creation of more complex drug candidates. Researchers also explore its use in organic synthesis for constructing heterocyclic compounds with diverse biological activities.