Used as a catalyst precursor in organic synthesis, particularly in Friedel-Crafts acylation reactions due to its Lewis acidic properties. Its organometallic structure allows for tunable electronic effects, making it useful in designing redox-active catalysts. Also employed in materials science for creating charge-transfer complexes and electroactive polymers. Shows potential in electrochemical sensors and as a building block in supramolecular chemistry owing to its stable redox behavior and ability to coordinate with various metal ions.