Used as a catalyst in homogeneous catalysis, particularly in organic synthesis for promoting hydrogenation, hydroformylation, and coupling reactions. Its rhodium center coordinated with dimethylphenylphosphine ligands and norbornadiene provides high activity and selectivity in transformation of alkenes and alkynes. Commonly employed in research laboratories for C–C bond formation and asymmetric synthesis. The hexafluorophosphate counterion enhances solubility in polar organic solvents, making it suitable for a wide range of reaction conditions.