Used primarily in catalysis, this compound is effective in various organic transformations, including the synthesis of complex molecules through gold-catalyzed reactions. It is particularly valuable in the formation of carbon-carbon and carbon-heteroatom bonds, making it a key component in pharmaceutical and fine chemical production. The phosphine ligand enhances the stability and reactivity of the gold center, allowing for precise control in catalytic processes. Additionally, it finds applications in materials science for the development of gold-based nanomaterials and coatings.