Used extensively in cross-coupling reactions, particularly in the Suzuki-Miyaura and Buchwald-Hartwig reactions, where it serves as a highly efficient catalyst for forming carbon-carbon and carbon-nitrogen bonds. Its application is crucial in the synthesis of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. The catalyst is favored for its stability, high reactivity, and ability to operate under mild conditions, making it suitable for industrial-scale processes. Additionally, it is employed in the development of organic electronic materials, such as OLEDs, due to its precision in forming conjugated systems.