Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of herbicides and plant growth regulators. Its structure allows for selective functionalization in multi-step organic reactions, making it valuable in creating complex aromatic compounds. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build biaryl systems in medicinal chemistry. Also utilized in the preparation of liquid crystals and organic electronic materials due to its stable aromatic backbone and substituent positioning.