This chemical is primarily utilized as a highly efficient catalyst in organic synthesis, particularly in reactions involving the formation of carbon-carbon and carbon-heteroatom bonds. Its strong electrophilic nature makes it effective in facilitating various transformations, such as cyclizations and rearrangements, under mild conditions. Additionally, it is employed in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals, due to its ability to enhance reaction selectivity and yield. Its stability and reactivity also make it suitable for use in advanced material science, particularly in the development of novel polymers and coatings with unique properties.