Used primarily as a catalyst or catalyst precursor in organic synthesis, especially in reactions involving carbon-carbon bond formation. It plays a key role in homogeneous catalysis, where it facilitates transformations under mild conditions. Commonly applied in industrial processes for fine chemical production, including pharmaceuticals and specialty materials. Its stability and reactivity in ionic environments make it suitable for electrochemical applications and in the development of organometallic reagents. Also utilized in research settings for studying reaction mechanisms involving iron-based complexes.