Used as a catalyst in organic synthesis, particularly in oxidation reactions such as the epoxidation of allylic alcohols. It shows high selectivity and efficiency when combined with hydrogen peroxide or tert-butyl hydroperoxide. Also employed in sol-gel processes for preparing vanadium-containing oxide materials with applications in sensors and electrochromic devices. Its reactivity makes it useful in the synthesis of fine chemicals and pharmaceutical intermediates where controlled oxidation is required.