This chemical is primarily utilized in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the production of drugs that target specific biological pathways, particularly in the development of anti-inflammatory and anti-cancer agents. Additionally, it is employed in the creation of benzimidazole derivatives, which are known for their antimicrobial and antifungal properties. Its role in organic synthesis also extends to the preparation of complex molecules used in research and development for potential therapeutic applications.