Used as a catalyst in organic synthesis, particularly in cross-coupling reactions enabling the formation of carbon-carbon and carbon-heteroatom bonds in the synthesis of complex organic molecules. It is also employed in polymerization processes, helping to initiate and control the formation of specialty polymers. Additionally, the complex is utilized in the preparation of organoboron compounds, which are valuable intermediates in various chemical reactions. The compound is also explored in material science for the development of advanced materials with specific electronic or structural properties.