Used as a precursor in the production of ytterbium-based materials for optical coatings and laser technologies. Plays a role in doping optical fibers for amplifiers and lasers due to ytterbium's favorable luminescent properties. Employed in research for solid-state lasers, particularly in high-power and ultrafast laser systems. Also investigated for use in phosphors and as a catalyst in certain organic reactions. Its thermal stability makes it suitable for high-temperature ceramic applications.