Used as a precursor in the synthesis of iridium-based catalysts for organic transformations such as hydrogenation, oxidation, and C–H activation reactions. Commonly employed in homogeneous catalysis due to its ability to form active iridium complexes. Plays a role in the development of luminescent materials and phosphorescent compounds for use in OLEDs and optoelectronic devices. Also utilized in research for electrochemical applications and in the preparation of supported iridium catalysts for industrial processes.