Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. Its structure supports the development of complex molecules due to the presence of both hydroxyl and methyl-substituted biphenyl groups. Commonly employed in the synthesis of liquid crystals and functional materials where aromatic stacking and substitution patterns are critical. Also finds use in research settings for ligand design in catalytic reactions, especially in palladium-catalyzed cross-coupling processes.