Used as a precursor in catalysis, especially in the synthesis of fine chemicals and pharmaceuticals. Plays a key role in olefin metathesis and hydrogenation reactions. Employed in electroplating and semiconductor manufacturing due to its conductive properties when reduced to metallic ruthenium. Also utilized in research for developing new catalysts and in some types of solar cells and sensors. Commonly applied in academic and industrial labs for preparing other ruthenium-based compounds.