Used as a catalyst precursor in organic synthesis, particularly in palladium-catalyzed cross-coupling reactions such as Suzuki and Heck reactions. It serves as a source of palladium in electroless plating baths for depositing palladium-nickel alloys on electronic components. Employed in the preparation of supported palladium catalysts for use in hydrogenation and oxidation processes. Also utilized in some specialty chemical processes where soluble palladium salts are required for homogeneous catalysis.