Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to construct biaryl compounds. Its hydroxyl and boronic acid functional groups allow for selective derivatization, making it valuable in the development of pharmaceuticals, agrochemicals, and advanced materials. The presence of the hydroxyl group enhances solubility and can direct regioselective reactions, improving efficiency in multi-step syntheses. It is also employed in the preparation of fluorescent dyes and sensors due to the naphthalene backbone’s inherent photophysical properties.