Used as a catalyst in organic synthesis, particularly in carbon-carbon bond formation reactions. It facilitates coupling reactions such as the Nozaki-Hiyama-Kishi reaction, where it enhances the selective reduction of organic halides in the presence of aldehydes or ketones. Its solubility in organic solvents like tetrahydrofuran makes it suitable for homogeneous catalytic systems. Also employed in the polymerization of certain olefins and in electrochemical processes due to its redox stability. Commonly handled under inert atmosphere because of sensitivity to moisture and air.