Used as a catalyst in various chemical reactions, particularly in hydrogenation processes where it helps in the conversion of unsaturated compounds to saturated ones. It is also employed in the production of nickel nanoparticles, which have applications in electronics, magnetic materials, and catalysis. In addition, it serves as a precursor in the synthesis of other nickel compounds, which are utilized in coatings, batteries, and fuel cells. Its role in organic synthesis includes facilitating the formation of carbon-carbon bonds, making it valuable in the manufacture of pharmaceuticals and fine chemicals.