Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of anti-inflammatory and antiviral agents. Its aldehyde and hydroxyl functional groups allow for versatile chemical modifications, making it valuable in constructing complex organic molecules. Commonly employed in cross-coupling reactions and condensation processes to build biphenyl-based scaffolds found in bioactive compounds. Also utilized in the preparation of liquid crystals and organic semiconductors due to its rigid aromatic structure and polarity.