Used as a catalyst in organic synthesis, particularly in reactions involving glycosylation and alkylation due to its strong Lewis acidity. It promotes coupling reactions and is effective in activating carbon-carbon and carbon-heteroatom bond formations. Commonly employed in the preparation of pharmaceuticals and fine chemicals where high selectivity and yield are required. Also utilized in electrochemical applications and as a reagent in the synthesis of other triflate salts. Its stability under various reaction conditions makes it suitable for use in both laboratory and industrial settings.