This complex is widely used in catalysis, particularly in hydrogenation and transfer hydrogenation reactions. It is effective in reducing various organic compounds, including ketones, aldehydes, and alkenes, under mild conditions. Its application extends to asymmetric synthesis, where it facilitates the production of chiral molecules, which are crucial in pharmaceuticals and fine chemicals. Additionally, it serves as a precursor in the development of other ruthenium-based catalysts, enhancing their efficiency and selectivity in organic transformations.