This chemical is primarily used as a ligand in organometallic chemistry and catalysis. It plays a significant role in facilitating various transition metal-catalyzed reactions, such as cross-coupling reactions, which are essential in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. Its sterically bulky and electron-rich nature makes it effective in stabilizing metal complexes and enhancing catalytic activity. Additionally, it is employed in the development of advanced materials and in research focused on understanding reaction mechanisms in organic synthesis.