Used as a catalyst in organic synthesis, particularly in cross-coupling reactions such as Kumada and Negishi couplings, enabling the formation of carbon-carbon bonds. Serves as a precursor for preparing other nickel-based compounds and complexes used in industrial and laboratory settings. Employed in electroplating processes to deposit nickel coatings on metals, enhancing corrosion resistance and surface hardness. Also utilized in research for studying coordination chemistry and magnetic properties of nickel complexes.