Used in research as a precursor for platinum-based anticancer agents due to its ability to bind DNA and induce apoptosis in cancer cells. It serves as a building block in the synthesis of more complex organometallic compounds for catalysis and photodynamic therapy. Also employed in the development of luminescent sensors and electrochemical probes because of its favorable redox properties and metal-ligand charge transfer characteristics. Its bipyridine ligand enhances stability and allows for functionalization, making it useful in designing coordination polymers and supramolecular architectures.