Used as a catalyst in organic synthesis, particularly in reactions involving the activation of alkenes and alkynes. It is effective in facilitating cycloaddition reactions, such as the [2+2] cycloaddition, which is useful in constructing complex ring structures. Additionally, it serves as a precursor in the preparation of silver nanoparticles, which have applications in antimicrobial coatings and conductive inks. Its role in electrochemical studies is also notable, where it aids in the investigation of redox processes and the development of sensors.