Used in the synthesis of pharmaceuticals, particularly as an intermediate in developing antiparasitic and antiviral agents. It serves as a building block in creating benzimidazole-based drug candidates due to its reactive aldehyde group, which allows for easy functionalization. Commonly employed in medicinal chemistry for constructing heterocyclic compounds with biological activity. Also utilized in the development of fluorescent probes and sensors owing to its ability to form conjugated systems upon condensation reactions.