This chemical is primarily utilized in advanced catalytic processes, particularly in organic synthesis and chemical transformations. Its unique structure, incorporating iridium and morpholine groups, makes it highly effective in facilitating complex reactions such as hydrogenation, dehydrogenation, and cross-coupling reactions. It is often employed in the production of fine chemicals and pharmaceuticals, where precise control over reaction pathways is crucial. Additionally, its catalytic properties are leveraged in the development of new materials and in research focused on improving reaction efficiency and selectivity.