This chemical is primarily used as a catalyst in various organic synthesis reactions, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, it is employed in the synthesis of complex organic molecules due to its high efficiency and selectivity. Its application extends to materials science, where it is used in the development of advanced materials and coordination polymers. The compound’s stability and reactivity make it a preferred choice in palladium-catalyzed processes.