Used as a precursor in the synthesis of ytterbium-doped optical materials, particularly for solid-state lasers and amplifiers operating in the near-infrared range. Plays a role in sol-gel processes to fabricate specialty glasses and ceramic oxides with enhanced luminescent properties. Employed in thin-film deposition techniques such as chemical vapor deposition (CVD) to produce dielectric and electro-optic coatings. Also utilized in research settings for developing catalysts and luminescent sensors due to its favorable redox behavior and coordination chemistry.