Used as a catalyst in cross-coupling reactions, particularly in the formation of carbon-carbon bonds. It facilitates reactions such as the Kumada and Negishi couplings, where aryl or vinyl halides react with organometallic reagents. Its stability and reactivity make it suitable for synthesizing complex organic molecules in pharmaceuticals, agrochemicals, and fine chemicals. Also employed in research for developing new catalytic processes and studying reaction mechanisms involving nickel centers.