Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. It participates in the formation of heterocyclic compounds that are essential in drug design due to their ability to interact with biological targets such as enzymes and receptors. Its structure allows for easy modification, making it valuable in creating libraries of compounds for screening in medicinal chemistry. Also employed in the preparation of benzimidazole derivatives, which exhibit a range of biological activities including antiparasitic, antifungal, and anti-inflammatory effects.