Used primarily in the synthesis of iridium-based catalysts for organic transformations, especially in C–H activation and hydrogenation reactions. It serves as a precursor for preparing luminescent iridium complexes used in OLEDs and optoelectronic devices. Also employed in electrochemical applications due to its stability and redox activity. In research, it acts as a source of Ir(III) for developing new coordination compounds with potential applications in photovoltaics and sensors.