This chemical is primarily used as a ligand in coordination chemistry and catalysis. It plays a significant role in forming complexes with transition metals, particularly in homogeneous catalysis processes. Its application is notable in cross-coupling reactions, such as Suzuki-Miyaura and Heck reactions, where it enhances the efficiency and selectivity of the catalytic system. Additionally, it is utilized in the synthesis of fine chemicals and pharmaceuticals due to its ability to stabilize metal centers and facilitate complex transformations. Its robust structure and electron-donating properties make it a valuable component in advanced material synthesis and organometallic chemistry research.