Used as a catalyst in organic synthesis, particularly in hydrocupration reactions, where it facilitates the addition of hydrogen and copper to unsaturated bonds in alkenes and alkynes. It is also employed in the reduction of carbonyl compounds, converting them to alcohols. Additionally, it plays a role in the preparation of organocopper reagents, which are valuable intermediates in various chemical transformations. Its application extends to polymer chemistry, where it assists in the polymerization of certain monomers. The compound is also utilized in the synthesis of fine chemicals and pharmaceuticals, contributing to the development of complex molecular structures.