Used as a homogeneous catalyst in organic synthesis, particularly in cross-coupling reactions such as Suzuki and Heck reactions. It facilitates carbon-carbon bond formation under mild conditions, making it valuable in pharmaceutical and fine chemical manufacturing. The complex is also employed in palladium-based electroless plating processes, where it acts as a source of palladium ions for depositing thin metal layers on substrates. Its solubility in polar solvents allows for easy integration into liquid-phase reaction systems, enhancing catalytic efficiency and reproducibility.