Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of benzimidazole-based drugs which exhibit antiparasitic, antiviral, and anticancer activities. It serves as a building block in the development of proton pump inhibitors used to treat gastrointestinal disorders such as acid reflux and peptic ulcers. Also employed in the preparation of agrochemicals and dyes due to its stable heterocyclic structure. Its hydroxyl and imidazole functional groups allow for versatile chemical modifications, making it valuable in research and development of bioactive molecules.