Build Failure on Android Studio

Step 1 : Go to File -> Invalidate & restart Option to invalidate all cached build files
Step 2 : Update below mentioned code in gradle.build (Module App)

android {
compileSdkVersion 30
buildToolsVersion "30.0.0"

defaultConfig {
applicationId "com.example.myapplication"
minSdkVersion 23
targetSdkVersion 30
versionCode 1
versionName "1.0"

testInstrumentationRunner "androidx.test.runner.AndroidJUnitRunner"
}