Used as a catalyst precursor in olefin polymerization, particularly in the production of polyethylene and polypropylene. It is effective in stereospecific polymerizations when paired with appropriate activators like methylaluminoxane (MAO). The compound supports the formation of well-defined active sites, leading to polymers with controlled molecular weight and tacticity. Commonly applied in academic and industrial research for developing new catalytic systems in coordination polymerization processes.