Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of benzimidazole-class drugs with antiparasitic and antiviral properties. It serves as a building block in the development of histamine H2-receptor antagonists and proton pump inhibitors for treating gastrointestinal disorders. Also utilized in research for developing fluorescent probes and sensors due to its favorable photophysical properties. Its structure supports metal coordination, making it useful in catalysis and material science applications.