This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure, featuring a benzimidazole core, makes it a valuable intermediate for creating molecules with potential biological activity. It is often explored in the design of inhibitors targeting specific enzymes or receptors, which can be relevant in treating various diseases, including cancer, infections, and inflammatory conditions. Additionally, its carboxylic acid group allows for further chemical modifications, enabling the creation of derivatives with enhanced properties for therapeutic applications. Researchers also investigate its use in developing fluorescent probes or imaging agents due to its aromatic system, which can interact with biological targets.