Used as a catalyst in organic synthesis, particularly in carbonylation and coupling reactions. It facilitates the formation of carbon-carbon bonds and is effective in the synthesis of ketones and aldehydes from organic halides. Also employed in the activation of carbon monoxide in homogeneous catalytic processes. Its phosphine ligands enhance stability and solubility in organic solvents, making it suitable for use under mild reaction conditions. Commonly applied in research laboratories for modeling transition metal-catalyzed reactions and in the development of fine chemicals and pharmaceutical intermediates.