This chemical is primarily used in the field of catalysis, particularly in organic synthesis processes. It acts as a catalyst in various coupling reactions, such as the Heck reaction, which is essential for forming carbon-carbon bonds in the production of complex organic molecules. Its structure allows for efficient electron transfer, making it suitable for reactions requiring precise control over the reaction environment. Additionally, it is employed in the synthesis of pharmaceuticals and fine chemicals, where its stability and selectivity contribute to the efficient production of high-purity compounds. Its application extends to material science, where it is used in the development of advanced polymers and coatings with specific properties.