This compound is primarily used in the synthesis of pharmaceuticals, particularly in the development of drugs targeting neurological and cardiovascular disorders. Its structure allows it to act as a key intermediate in the production of benzimidazole derivatives, which are known for their therapeutic properties. Additionally, it is utilized in the creation of organic light-emitting diodes (OLEDs) due to its electron-transporting capabilities, enhancing the efficiency of these devices. In research, it serves as a building block for designing novel compounds with potential applications in material science and medicinal chemistry.