This chemical is primarily used in organic synthesis as a highly efficient catalyst, particularly in cross-coupling reactions such as the Suzuki and Buchwald-Hartwig reactions. It plays a crucial role in facilitating the formation of carbon-carbon and carbon-heteroatom bonds, which are essential in constructing complex organic molecules. Its application is prominent in pharmaceutical research and development, where it aids in the synthesis of active pharmaceutical ingredients (APIs) and intermediates. Additionally, it is utilized in the production of fine chemicals and advanced materials, contributing to innovations in polymer chemistry and material science. The catalyst's stability and selectivity make it a valuable tool for chemists working on intricate synthetic pathways.