Used as a catalyst precursor in homogeneous catalysis, particularly in transfer hydrogenation and asymmetric hydrogenation reactions. The iridium complex is effective in promoting enantioselective transformations, making it valuable in the synthesis of chiral molecules for pharmaceuticals and fine chemicals. Its stability and reactivity in polar solvents allow for efficient catalytic cycles under mild conditions. Commonly employed in C–H activation and coupling reactions where high selectivity is required.