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 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 and stability of batteries. Its unique structure allows it to act as a mediator in redox reactions, improving efficiency in energy storage systems. Furthermore, it finds use in materials science for the development of conductive polymers and advanced coatings, contributing to innovations in electronics and surface protection technologies.