This chemical is primarily used as a ligand in organometallic chemistry and catalysis. It is particularly effective in facilitating cross-coupling reactions, such as Suzuki-Miyaura and Buchwald-Hartwig couplings, due to its electron-withdrawing properties, which enhance the reactivity of metal catalysts. Additionally, it is employed in the synthesis of phosphine-based materials and as a stabilizing agent in the preparation of nanoparticles. Its unique structure also makes it valuable in the development of advanced materials for electronic and optical applications.