Used as a ligand in transition metal-catalyzed reactions, particularly in palladium-catalyzed cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its electron-donating properties enhance catalyst stability and activity, improving reaction yields and selectivity. Commonly employed in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals where precise control over catalytic performance is required. Also finds use in the development of new organometallic complexes for homogeneous catalysis.