Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of angiotensin II receptor antagonists like valsartan and related sartan-class drugs. Its structure allows for the formation of biaryl motifs common in many bioactive molecules. It is also employed in the development of liquid crystals and organic electronic materials due to its stable aromatic framework and functional reactivity. Commonly utilized in cross-coupling reactions such as Suzuki-Miyaura to build complex aromatic systems.