Used as a catalyst in organic synthesis, particularly in hydrogenation and dehydrogenation reactions. It is effective in the conversion of alcohols to aldehydes or ketones and supports selective reduction processes in fine chemical manufacturing. Its mixed-metal composition enhances catalytic activity and stability under high-temperature conditions. Also employed in environmental catalysis for the removal of volatile organic compounds (VOCs) from industrial emissions. Shows promise in solid oxide fuel cells as an electrode material due to its redox properties and electrical conductivity.