This compound is widely used as a phase-transfer catalyst in organic synthesis, facilitating the transfer of reactants between immiscible phases, such as aqueous and organic layers. It is particularly effective in reactions like nucleophilic substitutions, where it enhances the reactivity of anions in organic solvents. Additionally, it serves as a key component in the preparation of ion-selective electrodes, where its stability and selectivity make it suitable for detecting specific ions in analytical chemistry. Its application extends to the field of materials science, where it is used in the synthesis of organic semiconductors and conductive polymers, contributing to advancements in electronic devices.