Used as a catalyst precursor in organic synthesis, particularly in cross-coupling reactions such as Suzuki–Miyaura and Heck reactions. Its stability and ease of handling make it suitable for generating active palladium or nickel catalytic species when transmetalated. Also employed in antimicrobial coatings due to silver’s biocidal properties, especially in medical devices and surface treatments where controlled release of silver ions is beneficial. The bulky N-heterocyclic carbene ligand enhances stability and modulates reactivity, making it effective in both homogeneous and supported catalytic systems.