Widely used as a precatalyst in cross-coupling reactions, this compound is particularly effective in forming carbon-carbon and carbon-heteroatom bonds. It shows high activity in Suzuki-Miyaura, Negishi, and Buchwald-Hartwig amination reactions, even with sterically hindered or electron-rich substrates. The robust N-heterocyclic carbene (NHC) ligands enhance thermal stability and prevent palladium aggregation, allowing the catalyst to perform efficiently under demanding conditions. It is often employed in pharmaceutical synthesis and materials science where reliable and selective catalytic transformations are required. The dichloro bridged dimeric structure facilitates easy activation, releasing active monomeric species in situ, which contributes to its widespread use in both academic and industrial settings.