Used as a catalyst in homogeneous catalysis, particularly in transfer hydrogenation reactions and C–H activation processes. It facilitates the reduction of ketones and aldehydes using isopropanol or formic acid as hydrogen donors. Also employed in the synthesis of fine chemicals and pharmaceutical intermediates due to its high selectivity and stability under mild reaction conditions. Soluble in polar organic solvents, making it suitable for solution-phase reactions. Its phosphine-free design enhances functional group tolerance and simplifies product purification.