Used extensively as a catalyst in organic synthesis, particularly in hydrogenation and hydrosilylation reactions. It facilitates the addition of hydrogen or silicon-based groups to unsaturated organic compounds, making it valuable in the production of fine chemicals and pharmaceuticals. Additionally, it is employed in the synthesis of complex organic molecules, including natural products and polymers, due to its ability to promote selective addition reactions. Its role in catalytic processes enhances efficiency and selectivity in industrial and laboratory-scale chemical transformations.