This chemical is widely used as a catalyst in various cross-coupling reactions, particularly in organic synthesis. It plays a crucial role in facilitating the formation of carbon-carbon and carbon-heteroatom bonds, making it essential in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its effectiveness in Suzuki-Miyaura, Heck, and Sonogashira reactions is highly valued due to its stability and efficiency under mild conditions. Additionally, it is employed in the synthesis of complex organic molecules, including natural products and polymers, due to its ability to enhance reaction selectivity and yield. Its application in industrial and academic research continues to drive advancements in synthetic chemistry.