This chemical is primarily used as a highly efficient catalyst in various organic synthesis reactions, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its robust structure and stability make it suitable for catalyzing the formation of carbon-carbon bonds in complex organic molecules, which is essential in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is valued for its ability to operate under mild conditions, reducing energy consumption and improving reaction selectivity. Its application extends to polymerization processes, where it aids in the synthesis of specialized polymers with tailored properties.