Used primarily in the synthesis of other iridium compounds and as a catalyst precursor in various industrial and laboratory-scale chemical reactions. It finds application in the preparation of homogeneous catalysts for hydrogenation and oxidation processes. Due to its reactivity, it is also employed in research settings for developing new catalytic materials and in electrochemical applications where iridium-based compounds are needed. Its role in depositing iridium-containing films makes it useful in specialized electronic and sensor technologies.