Used as a dietary supplement due to its potential insulin-mimetic properties, helping improve glucose metabolism in individuals with insulin resistance or type 2 diabetes. Commonly marketed to athletes and bodybuilders for its possible role in enhancing endurance, increasing strength, and supporting muscle growth, though scientific evidence remains limited. Also employed in research settings to study cellular signaling pathways related to insulin action and oxidative stress. In industrial applications, serves as a catalyst precursor in certain chemical reactions and in the preparation of vanadium-based materials.