This chemical is primarily used as a catalyst in organic synthesis, particularly in hydrogenation and isomerization reactions. It facilitates the addition of hydrogen to unsaturated compounds, making it valuable in the production of fine chemicals and pharmaceuticals. Its unique structure allows for selective catalytic activity, enabling the synthesis of complex molecules with high precision. Additionally, it is employed in the development of advanced materials, where it aids in the formation of specific molecular architectures. Its role in catalysis contributes to more efficient and sustainable chemical processes.