Widely used as a 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. Also effective in asymmetric synthesis when paired with chiral ligands, allowing for enantioselective transformations. Commonly applied in organic synthesis and pharmaceutical intermediates production due to its high activity and selectivity under mild conditions. Soluble in common organic solvents, making it suitable for use in solution-phase reactions. The dichloromethane adduct form enhances stability and ease of handling.