This chemical is primarily used as a catalyst in organic synthesis, particularly in gold-catalyzed reactions. Its application is significant in the formation of carbon-carbon and carbon-heteroatom bonds, enabling the synthesis of complex organic molecules. It is especially effective in reactions such as cycloisomerizations, hydroarylations, and other transformations involving alkynes or alkenes. The sterically bulky ligand enhances the stability and selectivity of the gold catalyst, making it suitable for precise and efficient catalytic processes in pharmaceutical and fine chemical industries.