Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiparasitic and antiviral agents. Its aldehyde functional group allows for easy modification, enabling the formation of Schiff bases and other derivatives important in drug design. Commonly employed in the preparation of benzimidazole-based compounds that exhibit biological activity, including kinase inhibitors and antimicrobial agents. Also utilized in the creation of fluorescent probes and sensors due to its ability to form conjugated systems useful in imaging and diagnostic applications.