Used as a catalyst precursor in homogeneous catalysis, particularly in coupling reactions such as Suzuki, Heck, and Sonogashira reactions, enabling the formation of carbon-carbon bonds in organic synthesis. It serves as a versatile reagent in the preparation of other palladium complexes due to its labile ligands that can be easily substituted. Also employed in research for developing new catalytic systems in pharmaceutical and fine chemical industries. Its well-defined structure makes it suitable for mechanistic studies in coordination chemistry and catalysis.