Used primarily in organic synthesis, it serves as a catalyst in various coupling reactions, such as the Heck and Suzuki reactions, enabling the formation of carbon-carbon bonds. Its application extends to the pharmaceutical industry, where it aids in the production of complex molecules for drug development. Additionally, it is employed in the synthesis of fine chemicals and advanced materials, contributing to the creation of high-performance polymers and specialty compounds. Its versatility and efficiency make it a valuable tool in modern chemical research and industrial processes.