This complex is primarily used as a highly efficient catalyst in cross-coupling reactions, particularly in the synthesis of complex organic molecules. Its application is prominent in the pharmaceutical industry for the production of active pharmaceutical ingredients (APIs), where it facilitates the formation of carbon-carbon and carbon-heteroatom bonds with high selectivity and yield. The catalyst is also employed in materials science for the development of organic electronic materials, such as organic light-emitting diodes (OLEDs) and conductive polymers. Its stability and versatility make it suitable for use in both academic research and industrial-scale processes, enabling the synthesis of structurally diverse compounds.