Used as a highly effective N-heterocyclic carbene (NHC) precursor in catalytic applications, particularly in cross-coupling reactions and olefin metathesis. Its bulky, electron-rich structure enhances catalyst stability and activity, making it valuable in advanced organic synthesis for pharmaceuticals and fine chemicals. The methoxy and dibenzhydryl groups contribute to improved solubility and steric protection around the active site, which helps prevent catalyst deactivation. Commonly employed in palladium-catalyzed transformations and as a ligand in transition metal complexes for industrial and academic research settings.