Used as a homogeneous catalyst in various organic transformations, particularly in hydrogenation and hydroformylation reactions. It facilitates the addition of hydrogen across unsaturated bonds, such as alkenes and ketones, under mild conditions. Also employed in carbonylation and coupling reactions, where it promotes carbon-carbon bond formation. Its high selectivity and activity make it valuable in fine chemical synthesis and pharmaceutical manufacturing. Soluble in organic solvents, it enables efficient catalytic cycles in solution-phase systems. Often used in research and industrial processes requiring precise stereochemical control.