This chemical is widely used as a ligand in coordination chemistry and catalysis, particularly in transition metal-catalyzed reactions. It plays a critical role in facilitating cross-coupling reactions, such as Suzuki-Miyaura and Heck reactions, which are essential in organic synthesis for constructing carbon-carbon bonds. Its ability to stabilize metal complexes enhances catalytic efficiency and selectivity. Additionally, it is employed in the synthesis of fine chemicals, pharmaceuticals, and advanced materials. Its unique structure allows for effective chelation, making it valuable in designing homogeneous catalysts for industrial and academic research applications.