Widely used as a catalyst in cross-coupling reactions, particularly in the formation of carbon-carbon bonds. It facilitates reactions such as Kumada, Negishi, and Suzuki couplings, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its stability and reactivity under mild conditions make it a preferred choice in industrial and academic research settings. Also employed in electrochemical applications and as a precursor in the preparation of other nickel-based catalysts.