Used as a catalyst in organic synthesis, particularly in coupling reactions and hydrogenation processes. Exhibits good activity in promoting carbon-nitrogen and carbon-carbon bond formations. Also applied in electroplating baths to improve deposit uniformity and adhesion of nickel coatings. Shows potential in dye-sensitized solar cells as a redox mediator due to its reversible electrochemical behavior. Additionally, utilized in the preparation of functional polymers and coordination networks for materials science applications.