This chemical is widely used as a catalyst in various organic synthesis reactions. It plays a crucial role in hydrogenation, hydrosilylation, and carbonylation processes, enabling the efficient production of fine chemicals and pharmaceuticals. Its application in olefin isomerization and cyclization reactions is also notable, contributing to the synthesis of complex organic molecules. Additionally, it is employed in the preparation of other platinum complexes, which are further utilized in catalytic systems. Its stability and reactivity make it a valuable component in industrial and research settings for developing advanced chemical processes.