This chemical is primarily used in organic synthesis as a catalyst, particularly in palladium-catalyzed cross-coupling reactions such as the Heck, Suzuki, and Sonogashira reactions. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of complex organic molecules, including pharmaceuticals and fine chemicals. Its application extends to polymerization processes, where it helps in the synthesis of specialized polymers with tailored physical and chemical properties. Additionally, it is employed in research and development for exploring new catalytic pathways and optimizing reaction conditions in synthetic chemistry, enabling high-efficiency and precise molecular design.