Used as a catalyst in various organic synthesis reactions, particularly in polymerization processes where it facilitates the formation of polymers like polyethers and polyesters, and in alkylation reactions. It is employed in the petrochemical industry to improve production process efficiency. It is also used in the production of specialty chemicals, including pharmaceuticals and agrochemicals, due to its stability and ability to promote specific reactions efficiently. Additionally, it is utilized in the preparation of boron-containing compounds, which are essential in advanced materials and coatings. Its unique properties make it valuable in applications requiring precise control over chemical reactions.