Used as a highly efficient catalyst in homogeneous catalysis, particularly in transfer hydrogenation reactions. It enables the reduction of ketones and aldehydes to alcohols using isopropanol or formic acid as hydrogen donors. The presence of the diphenylphosphino and t-butylpyridine ligands enhances catalytic activity and stability under various reaction conditions. It is also employed in asymmetric synthesis when paired with chiral ligands, allowing for enantioselective transformations. Its solubility in polar organic solvents makes it suitable for use in a wide range of synthetic organic transformations, including pharmaceutical and fine chemical production.