This chemical is widely used as a catalyst in various organic synthesis reactions, particularly in cross-coupling reactions such as the Suzuki-Miyaura and Heck reactions. Its effectiveness in facilitating the formation of carbon-carbon bonds makes it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, it is employed in the synthesis of complex organic molecules, including natural products and polymers, due to its stability and high catalytic activity. Its application extends to materials science, where it aids in the development of advanced materials with specific electronic or structural properties.