Used as a catalyst in organic synthesis, particularly in cross-coupling reactions to form carbon-carbon bonds. It is effective in facilitating the polymerization of olefins and other monomers, contributing to the production of high-performance plastics and polymers. Additionally, it serves as a precursor in the preparation of other nickel complexes, which are utilized in various catalytic processes. Its application extends to materials science, where it is employed in the development of coordination polymers and metal-organic frameworks (MOFs) with potential uses in gas storage, separation, and catalysis.