Widely used as a catalyst in organic synthesis, particularly in cross-coupling reactions such as the Heck, Suzuki, and Sonogashira reactions, enabling the formation of carbon-carbon bonds. It is also employed in hydrogenation processes, where it facilitates the reduction of unsaturated compounds. In the pharmaceutical industry, it plays a crucial role in the synthesis of complex drug molecules. Additionally, it is utilized in the production of fine chemicals and advanced materials, contributing to the development of polymers and electronic components. Its stability and efficiency make it a preferred choice in various industrial and research applications.