Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its biphenyl structure, which is common in many drug molecules. Additionally, it is employed in the synthesis of liquid crystals, which are essential components in display technologies like LCDs. Its nitrile group also makes it a useful precursor for further chemical transformations, such as hydrolysis or reduction, to produce amines or carboxylic acids.