Used primarily as a ligand in transition metal-catalyzed reactions, particularly in cross-coupling processes such as Suzuki-Miyaura and Buchwald-Hartwig reactions. Its steric and electronic properties enhance the efficiency and selectivity of these reactions, making it valuable in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. It also aids in the formation of carbon-carbon and carbon-heteroatom bonds under mild conditions, contributing to the development of complex organic molecules.