This chemical is widely used as a catalyst in various organic synthesis reactions, particularly in cross-coupling processes such as Suzuki-Miyaura and Heck reactions. Its robust structure and stability under reaction conditions make it highly effective for forming carbon-carbon bonds, which are essential in the production of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, it is employed in the synthesis of complex organic molecules due to its ability to facilitate challenging transformations with high selectivity and efficiency.