It is widely used as a catalyst in various cross-coupling reactions, such as Suzuki, Heck, and Sonogashira reactions, enabling the formation of carbon-carbon bonds in organic synthesis. This makes it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Its stability and efficiency in catalytic processes make it a preferred choice for complex molecular transformations. Additionally, it is employed in polymerization reactions to create specialized polymers with tailored properties for industrial applications. Its versatility and effectiveness in facilitating challenging chemical reactions underscore its importance in modern synthetic chemistry.