Used as a catalyst in organic synthesis, particularly in Friedel-Crafts alkylation and acylation reactions due to its Lewis acid properties. It facilitates the formation of carbon-carbon bonds under mild conditions. Also employed in electroplating baths to improve the quality and adhesion of zinc coatings. Its hydrated form enhances solubility in polar solvents, making it suitable for homogeneous reaction systems. Additionally, it serves as a source of fluoride ions in fluorination processes and in the preparation of other boron-containing compounds.