Widely used as a catalyst in homogeneous catalysis, particularly in hydrogenation and transfer hydrogenation reactions. It facilitates the reduction of ketones, aldehydes, and imines under mild conditions. Commonly employed in organic synthesis for the selective reduction of polar double bonds. Also utilized in coupling reactions and has shown activity in C–H bond activation processes. Its stability and solubility in organic solvents make it suitable for use in a variety of reaction media. Often chosen for mechanistic studies due to well-defined reactivity and ligand exchange properties.