Used primarily as a selective reducing agent in organic synthesis, it is particularly effective for reducing ketones, aldehydes, and imines to their corresponding alcohols and amines. Its sterically hindered structure allows for high chemoselectivity, making it useful in complex molecule synthesis where precise control over reduction is required. It is also employed in the reduction of esters and lactones to alcohols under mild conditions. Additionally, it serves as a valuable reagent in asymmetric synthesis, aiding in the production of chiral compounds. Its application extends to the preparation of organoboron compounds, which are important intermediates in various chemical processes.