This compound is widely utilized as a ligand in transition metal catalysis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its robust structure and electron-rich nature enhance the stability and activity of the metal complexes, making it valuable in synthesizing complex organic molecules. The ligand's ability to fine-tune catalytic processes makes it useful in pharmaceutical, agrochemical industries, and materials science for developing advanced polymers and nanomaterials.