This chemical is primarily utilized in organic synthesis as a catalyst, particularly in reactions involving the activation of small molecules. It is effective in facilitating C-H bond activation processes, which are crucial in the formation of complex organic compounds. Additionally, it is employed in the polymerization of certain monomers, aiding in the production of specialized polymers with tailored properties. Its unique structure and reactivity make it suitable for use in advanced material science research, particularly in the development of new catalytic systems and materials with specific electronic or structural characteristics.