Used primarily in organic synthesis, it serves as an intermediate in the production of pharmaceuticals and agrochemicals. Its biphenyl structure makes it valuable in the development of compounds with potential therapeutic properties. Additionally, it is employed in research for creating complex molecules due to its carboxylic acid group, which allows for further functionalization. In material science, it can be utilized in the synthesis of organic electronic materials, contributing to advancements in conductive polymers and other electronic components.