This chemical is widely used as a ligand in transition metal catalysis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its ability to stabilize metal complexes enhances catalytic efficiency and selectivity in organic synthesis. It is also employed in the production of pharmaceuticals, agrochemicals, and fine chemicals, where precise control over reaction pathways is crucial. Additionally, it finds use in materials science for the development of advanced polymers and coordination polymers with specific electronic or structural properties. Its robust and versatile nature makes it a valuable component in both industrial and academic research settings.