Used as a catalyst in organic synthesis, particularly in Meerwein-Ponndorf-Verley reductions, where it facilitates the reduction of aldehydes and ketones to alcohols using isopropanol as a reducing agent. It serves as a reagent in the preparation of fine chemicals and pharmaceuticals due to its selectivity and mild reaction conditions. Also employed in sol-gel processes for the synthesis of alumina-based materials and mixed metal oxides. Its ability to form alkoxides with other metals makes it valuable in the production of heterogeneous catalysts and advanced ceramic materials.