Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of angiotensin II receptor antagonists for treating hypertension. Its structure allows for selective binding and improved metabolic stability in drug candidates. Also employed in the production of liquid crystal materials for display technologies due to its ability to influence mesogenic properties. Commonly utilized in cross-coupling reactions, such as Suzuki-Miyaura, to build complex biaryl systems in medicinal chemistry research.