Used as a catalyst in various organic synthesis reactions, particularly in cross-coupling reactions such as the Suzuki-Miyaura and Heck reactions. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its effectiveness in asymmetric synthesis also makes it useful for creating chiral compounds, which are important in drug development. Additionally, it is employed in the synthesis of complex organic molecules due to its stability and efficiency under mild reaction conditions.