Used extensively in cross-coupling reactions, particularly in the synthesis of complex organic molecules. It is highly effective in facilitating Suzuki-Miyaura coupling, enabling the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This catalyst is also applied in the pharmaceutical industry for the production of active pharmaceutical ingredients (APIs) due to its efficiency and selectivity. Additionally, it is employed in materials science for the development of organic electronic materials, such as OLEDs and conductive polymers. Its robust performance under mild conditions makes it a preferred choice in both academic research and industrial applications.