This chemical is primarily used in catalysis, particularly in organic synthesis. It serves as a highly efficient catalyst for various cross-coupling reactions, such as the Suzuki-Miyaura coupling, which is widely employed in the formation of carbon-carbon bonds. Its application extends to the synthesis of complex organic molecules, including pharmaceuticals, agrochemicals, and fine chemicals. The compound’s stability and reactivity make it suitable for use in both academic research and industrial processes. Additionally, it is utilized in the development of advanced materials and in the study of catalytic mechanisms due to its unique electronic and steric properties.