Used primarily in specialized catalytic reactions, particularly in oxidation processes where a stable bromine-rich iridium complex is required. It serves as a precursor in the synthesis of iridium-based catalysts for organic transformations. Also employed in research settings for studying halogen-rich coordination compounds and their reactivity. Its high bromine content makes it useful in certain electrochemical applications and in the development of materials for radiation shielding studies. Limited to laboratory and industrial research due to its sensitivity and cost.