This chemical is widely used as a precursor or catalyst in organic synthesis, particularly in the formation of N-heterocyclic carbenes (NHCs). These carbenes are highly effective in catalyzing various reactions, including cross-coupling, polymerization, and ring-opening polymerization processes. It is also employed in the development of organometallic complexes, which are essential in creating advanced materials and pharmaceuticals. Additionally, its stability and reactivity make it a valuable component in research focused on green chemistry and sustainable catalytic systems.