Used as a catalyst in organic synthesis, particularly in hydrogenation and hydroformylation reactions. It facilitates the addition of hydrogen to unsaturated compounds, converting alkenes to alkanes. Also employed in carbonylation processes, where it helps introduce carbonyl groups into organic molecules. Its role in polymerization reactions is notable, aiding in the formation of polymers with specific properties. Additionally, it is utilized in the synthesis of fine chemicals and pharmaceuticals, contributing to the production of complex molecular structures. Its effectiveness in these applications stems from its ability to stabilize reactive intermediates and promote selective transformations.