Used as a key intermediate in the synthesis of liquid crystal materials for display technologies. Its rigid biphenyl structure with a hydroxymethyl group enables functionalization into esters or ethers that are incorporated into liquid crystal formulations, enhancing thermal stability and mesophase behavior. Also explored in pharmaceutical research as a building block for bioactive molecules due to its aromatic and polar characteristics. Suitable for use in organic synthesis where a sterically hindered benzyl alcohol derivative is required.