This chemical is primarily used as a ligand in transition metal catalysis, particularly in palladium-catalyzed cross-coupling reactions. It facilitates the formation of carbon-carbon and carbon-heteroatom bonds, making it valuable in organic synthesis for constructing complex molecules. Its steric and electronic properties enhance the efficiency and selectivity of catalytic processes, such as Suzuki-Miyaura and Buchwald-Hartwig reactions. It is also employed in the pharmaceutical industry for synthesizing active pharmaceutical ingredients (APIs) and in materials science for developing advanced polymers and fine chemicals.