Used as a catalyst precursor in organic synthesis, particularly in cross-coupling reactions such as Suzuki and Heck reactions. It serves as a source of palladium(II) in homogeneous catalytic systems. Commonly applied in the preparation of pharmaceuticals, fine chemicals, and advanced materials. Also employed in electrochemical applications and in the synthesis of other palladium-based catalysts. Its solubility in polar solvents makes it suitable for solution-phase reactions.