Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions for the synthesis of biaryl compounds, particularly in pharmaceutical and agrochemical industries. Its hydroxyl and boronic acid functional groups allow dual reactivity, enabling selective modifications in drug development. Commonly employed in the preparation of liquid crystals and organic semiconductors due to its rigid biphenyl structure and ability to form stable conjugated systems. Also utilized in the creation of sensors and fluorescent probes, where the boronic acid group binds diols and the hydroxyl group enhances solubility and coordination.