Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for selective functionalization, making it valuable in constructing complex organic compounds. Commonly employed in research settings for designing enzyme inhibitors and in the preparation of chiral ligands for asymmetric synthesis. Also utilized in the development of liquid crystals and specialty polymers due to its rigid biphenyl framework and hydrogen-bonding capability.