This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions. It serves as a key reagent in the formation of carbon-carbon and carbon-heteroatom bonds, which are fundamental in constructing complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by enabling precise and efficient chemical transformations. Additionally, it is employed in material science for the synthesis of advanced polymers and specialty chemicals, contributing to innovations in coatings, adhesives, and electronic materials. Its stability and reactivity make it a valuable tool in various industrial and academic research settings.