Used as a highly efficient homogeneous catalyst in organic synthesis, particularly in hydrogenation and hydroformylation reactions. It facilitates the addition of hydrogen across unsaturated bonds, such as alkenes and ketones, under mild conditions. Its phosphine ligands enhance stability and solubility in organic solvents, allowing for better reaction control and selectivity. Also employed in catalytic transfer hydrogenation, where it enables the reduction of carbonyl compounds and imines using hydrogen donors. Due to its robust catalytic activity, it is valuable in pharmaceutical and fine chemical industries for synthesizing chiral intermediates.