This chemical is widely used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura, Heck, and Sonogashira reactions. It serves as a highly efficient catalyst due to its stability and reactivity, enabling the formation of carbon-carbon bonds in complex molecules. Its application is prominent in pharmaceutical research and development, where it aids in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it is utilized in material science for the preparation of advanced polymers and organic electronic materials. The compound’s robust nature allows it to perform well under various reaction conditions, making it a valuable tool in both academic and industrial laboratories.