This chemical is widely used in cross-coupling reactions, particularly in the synthesis of complex organic molecules. Its application is prominent in the pharmaceutical industry for the efficient production of active pharmaceutical ingredients (APIs). It serves as a highly effective catalyst in Suzuki-Miyaura and Buchwald-Hartwig coupling reactions, enabling the formation of carbon-carbon and carbon-nitrogen bonds with high selectivity and yield. Additionally, it is utilized in material science for the development of organic electronic materials, such as polymers and small molecules used in OLEDs and other optoelectronic devices. Its robust performance under mild reaction conditions makes it a preferred choice for industrial and academic research.