This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a key intermediate for creating complex organic molecules. Its structure, featuring both carbazole and biphenyl moieties, makes it valuable in the development of organic electronic materials, including organic light-emitting diodes (OLEDs) and photovoltaic cells, due to its ability to enhance charge transport and stability. Additionally, it is employed in the design of fluorescent probes and sensors for detecting specific analytes, leveraging its unique photophysical properties. In medicinal chemistry, it serves as a building block for synthesizing potential drug candidates, particularly those targeting enzyme inhibition or receptor modulation.