This chemical is widely used as a catalyst in various organic synthesis reactions, particularly in cross-coupling reactions such as the Suzuki-Miyaura and Buchwald-Hartwig reactions. It facilitates the formation of carbon-carbon and carbon-heteroatom bonds, making it essential in the production of pharmaceuticals, agrochemicals, and advanced materials. Its high efficiency and selectivity enable the synthesis of complex molecules with precision. Additionally, it is employed in asymmetric catalysis for the preparation of chiral compounds, which are crucial in the development of enantiomerically pure drugs. Its stability and versatility make it a valuable tool in both academic research and industrial applications.