This compound is widely used as a catalyst in various cross-coupling reactions, such as Suzuki-Miyaura and Buchwald-Hartwig reactions, which are essential in the synthesis of pharmaceuticals, agrochemicals, and organic materials. Its high stability and efficiency make it particularly valuable in creating carbon-carbon and carbon-nitrogen bonds under mild conditions. Additionally, it is employed in the production of fine chemicals and advanced materials, where precise control over molecular structure is crucial. Its application extends to research and development in organic chemistry, enabling the creation of complex molecules with high selectivity and yield.