Used primarily in organic synthesis, this chemical serves as a ligand in catalytic processes, particularly in transition metal-catalyzed reactions. Its application is significant in the development of pharmaceuticals, where it aids in the formation of complex molecular structures. Additionally, it is utilized in the production of fine chemicals and advanced materials, contributing to the enhancement of reaction efficiency and selectivity. Its role in cross-coupling reactions is notable, enabling the construction of carbon-carbon and carbon-heteroatom bonds, which are crucial in the synthesis of various organic compounds.