Used as a catalyst in organic synthesis, particularly in esterification and transesterification reactions. It promotes the formation of esters from carboxylic acids and alcohols under mild conditions. Also applied in the production of polyesters and biodegradable polymers due to its low toxicity and high thermal stability. Shows utility in pharmaceutical intermediates synthesis where selective acylation is required. Its bismuth center offers Lewis acid properties, enabling activation of carbonyl groups without significant side reactions.