Used as a catalyst in organic synthesis, particularly in coupling reactions such as Ullmann-type reactions where carbon-nitrogen or carbon-oxygen bonds are formed. It facilitates the formation of biaryl compounds and is effective in mild reaction conditions, making it valuable in pharmaceutical and agrochemical manufacturing.

Also employed in materials science for the preparation of conductive polymers and coordination networks due to its stable redox properties.

Its role in electrochemical applications includes use in sensors and electron transfer studies.