This chemical is primarily utilized in the field of catalysis, particularly in organic synthesis reactions. It serves as an effective catalyst for various transformations, including the formation of carbon-carbon and carbon-heteroatom bonds. Its application is significant in the development of pharmaceuticals and fine chemicals, where precise and efficient catalytic processes are essential. Additionally, it is employed in materials science for the synthesis of advanced materials with specific electronic or structural properties. Its stability and reactivity make it a valuable tool in research and industrial processes.