Used as a catalyst in polymerization reactions, especially in the synthesis of polyolefins. It is effective in olefin metathesis and helps control molecular weight and polymer structure. Also employed in organic synthesis for C–C bond formation due to its ability to mediate coupling reactions. Its stability and reactivity make it suitable for use in vapor-phase deposition processes for creating nickel-containing thin films in electronics. Commonly applied in research settings for developing new catalytic systems and organometallic transformations.