Used primarily as a catalyst in various chemical reactions, it facilitates hydrogenation processes where unsaturated compounds are converted to saturated ones. It is also employed in the synthesis of pharmaceuticals, enabling the creation of complex molecules through selective hydrogenation. In environmental applications, it helps in the purification of gases by removing impurities through catalytic conversion. Additionally, it plays a crucial role in fuel cell technology, enhancing the efficiency of hydrogen oxidation reactions. Its application extends to organic synthesis, where it aids in coupling reactions, forming carbon-carbon bonds essential for constructing intricate organic compounds.