Used as a precursor in the synthesis of ytterbium-containing materials for optical and electronic applications. Employed in research for developing luminescent compounds and laser materials due to its favorable spectroscopic properties. Serves as a catalyst in certain organic reactions, particularly in coupling and polymerization processes. Utilized in the preparation of thin films and nanomaterials for advanced technological applications. Also investigated for use in quantum computing and magnetic studies owing to the unique electron configuration of ytterbium ions.