This compound is primarily utilized as a catalyst or co-catalyst in various organic synthesis reactions, particularly in acylation and esterification processes. Its ability to enhance reaction rates and improve yields makes it valuable in the production of pharmaceuticals, where precise and efficient synthesis is crucial. Additionally, it is employed in the development of advanced materials, such as polymers, where it aids in the modification of chemical structures to achieve desired properties. Its role in facilitating nucleophilic substitutions and other transformations also makes it useful in fine chemical manufacturing, contributing to the synthesis of complex molecules with high specificity.