Widely used as a ligand in transition metal catalysis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Buchwald-Hartwig reactions. Its water-soluble nature makes it valuable in aqueous-phase catalytic processes, enhancing reaction efficiency and enabling easier separation of products. Commonly employed in pharmaceutical synthesis for constructing complex organic molecules. Its stability and effectiveness in challenging reaction conditions make it a preferred choice for industrial and academic research applications.