This chemical is primarily used as a highly efficient catalyst in organic synthesis, particularly in cross-coupling reactions such as Sonogashira, Suzuki-Miyaura, and Buchwald-Hartwig amination. It facilitates the formation of carbon-carbon and carbon-heteroatom bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity under mild conditions make it suitable for complex molecular transformations. Additionally, it is employed in polymerization processes to create specialized polymers with tailored properties. The compound's robust structure allows it to perform effectively in various industrial and research applications, contributing to advancements in synthetic chemistry.