This chemical is primarily utilized as a key intermediate in organic synthesis, particularly in the preparation of complex biphenyl derivatives. It plays a significant role in the development of pharmaceuticals, where it is used to construct active pharmaceutical ingredients (APIs) with specific structural motifs. Additionally, it finds application in material science for the synthesis of advanced organic materials, such as liquid crystals or polymers, due to its unique biphenyl framework. The isopropoxy groups enhance its solubility and reactivity, making it a versatile building block in various chemical reactions, including cross-coupling reactions and functional group transformations.