Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for building complex molecules. It is also employed in the preparation of liquid crystal materials due to its rigid biphenyl framework and ability to undergo halogen-metal exchange reactions for further derivatization. Commonly utilized in cross-coupling reactions such as Suzuki-Miyaura to form biaryl systems found in bioactive molecules.