Used in pharmaceutical synthesis as an intermediate for bioactive compounds, particularly in the development of benzimidazole-based drugs. Commonly employed in the preparation of antiparasitic, antiviral, and anticancer agents due to the presence of the benzimidazole core. Also utilized in organic synthesis for constructing heterocyclic frameworks. Its ester and ketone functional groups allow for further chemical modifications, making it valuable in medicinal chemistry research and drug discovery processes.