This chemical is primarily utilized as a highly efficient catalyst in olefin metathesis reactions, a process critical in organic synthesis for the formation of carbon-carbon double bonds. Its application is particularly valuable in the production of pharmaceuticals, where it facilitates the construction of complex molecular structures with high precision and selectivity. Additionally, it is employed in the synthesis of polymers and advanced materials, enabling the development of novel compounds with tailored properties. The catalyst's robustness and tolerance to functional groups make it a preferred choice in both academic research and industrial applications, streamlining synthetic routes and improving yields.