Used in organic synthesis as a protective group for carbonyl compounds, enabling umpolung reactivity as an acyl anion equivalent, particularly in the preparation of complex molecules. It helps stabilize sensitive intermediates during multi-step reactions. Also employed in the synthesis of natural products and pharmaceuticals, where it aids in controlling stereochemistry. Its ability to form stable complexes with metals makes it useful in catalysis and material science. Additionally, it serves as a precursor in the development of sulfur-containing compounds for agrochemicals and polymers.