Used as a versatile homogeneous catalyst in organic synthesis, particularly in hydrogenation reactions of alkenes, alkynes, carbonyl compounds (such as aldehydes and ketones), and nitriles to amines. It facilitates the addition of hydrogen under mild conditions with high selectivity and activity, making it valuable in fine chemical and pharmaceutical manufacturing. Also employed in transfer hydrogenation and catalytic reduction processes. Its stability and solubility in organic solvents enhance its utility in solution-phase catalysis.