Used as a ligand precursor in transition metal-catalyzed reactions, particularly in palladium-catalyzed cross-coupling reactions such as Suzuki and Heck reactions. Its steric bulk and electron-donating properties enhance catalyst stability and influence selectivity. Also employed in the synthesis of phosphine ligands for homogeneous catalysis. Shows utility in materials science for the development of organic electronic materials due to its ability to modulate electronic properties in metal complexes.