Used as a reducing agent in organic synthesis, particularly for the reduction of carbonyl groups and imines. It serves as a source of hydride ions in various chemical transformations. Employed in the preparation of boron-containing compounds and in hydrogen storage research due to its high hydrogen content. Investigated for use in solid-state batteries and energy storage systems because of its ionic conductivity when combined with certain salts or additives. Also utilized in the development of new materials for aerospace and defense applications where lightweight reducing agents are required.