Used as a catalyst in organic synthesis, particularly in the polymerization of polar monomers like lactides and lactones, enabling the production of biodegradable polymers. It is also employed in the preparation of samarium-based complexes for use in materials science, aiding in the development of advanced ceramics and nanomaterials. Additionally, it serves as a reagent in the synthesis of fine chemicals and pharmaceuticals, where its unique reactivity facilitates complex transformations. Its application in coordination chemistry helps in studying the behavior of rare earth metals in various chemical environments.