Used as a catalyst precursor in organic synthesis, particularly in cross-coupling reactions such as Suzuki, Heck, and Sonogashira reactions. Commonly employed in pharmaceutical manufacturing, fine chemical production, and materials science for forming carbon-carbon bonds. Also utilized in the preparation of supported palladium catalysts for industrial processes including hydrogenation and dehydrogenation. Suitable for research and development in homogeneous catalysis due to its solubility in common organic solvents.