Used as a catalyst in various organic synthesis reactions, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its stability and efficiency in catalytic processes make it a preferred choice in industrial and academic research settings. Additionally, it plays a role in organometallic chemistry research for developing new efficient catalysts.