Used as a reducing agent in organic synthesis, particularly for the selective reduction of carboxylic acids to alcohols and for the reduction of esters to aldehydes. It is also employed in the hydroboration of alkenes and alkynes, facilitating the formation of organoboron compounds. Additionally, it serves as a reagent in the preparation of pharmaceuticals and fine chemicals, where precise control over reduction processes is crucial. Its stability and ease of handling make it a preferred choice in laboratory settings for various reduction reactions.