This chemical is primarily used as a catalyst in organic synthesis, particularly in reactions involving cross-coupling processes. It facilitates the formation of carbon-carbon and carbon-heteroatom bonds, making it valuable in the production of complex organic molecules. Additionally, it is employed in electrochemical applications, where it serves as an electrolyte additive to enhance the performance of batteries and capacitors. Its unique structure also allows it to act as a stabilizer in certain polymerization reactions, improving the efficiency and control of the polymer formation process.