This chemical is widely used in organic synthesis, particularly in cross-coupling reactions. It serves as an efficient catalyst in processes like Suzuki-Miyaura and Heck reactions, enabling the formation of carbon-carbon bonds. Its stability and reactivity make it suitable for synthesizing complex organic compounds, including pharmaceuticals and agrochemicals. Additionally, it is employed in the development of fine chemicals and materials science research, where precise catalytic activity is essential. Its application extends to polymerization reactions, contributing to the production of advanced polymers with specific properties.