This chemical is primarily used as a highly efficient catalyst in cross-coupling reactions, particularly in the synthesis of complex organic molecules. It plays a crucial role in facilitating carbon-carbon and carbon-heteroatom bond formations, which are essential in the production of pharmaceuticals, agrochemicals, and advanced materials. Its unique structure allows for improved selectivity and reactivity, making it a preferred choice in challenging synthetic transformations. Additionally, it is employed in the development of fine chemicals and in research focused on creating novel compounds with potential therapeutic or industrial applications.