Used primarily as a reagent in organic synthesis, it facilitates the introduction of the triflate group, which is a highly reactive leaving group. This property makes it valuable in forming carbon-carbon and carbon-heteroatom bonds, particularly in the synthesis of complex organic molecules. It is also employed in the preparation of sulfonate esters, which are crucial intermediates in pharmaceuticals and agrochemicals. Additionally, it serves as a catalyst or co-catalyst in various polymerization reactions, enhancing the efficiency of the process. Its strong electrophilic nature is exploited in Friedel-Crafts acylation reactions to produce aromatic ketones.