Used as a selective reducing agent in organic synthesis, particularly for the reduction of aldehydes, ketones, and imines. It is valued for its stability and ease of handling compared to other borane-based reagents. Commonly employed in pharmaceutical manufacturing for constructing complex molecules where controlled reduction is required. Also utilized in the preparation of boron-containing compounds and as a reagent in polymer chemistry for modifying functional groups. Its mild reactivity makes it suitable for reactions involving sensitive substrates.