This chemical is widely used as a catalyst in organic synthesis, particularly in polymerization reactions. It is highly effective in the production of polyolefins, where it helps control the molecular weight and structure of the polymers. Additionally, it is employed in the synthesis of complex organic molecules, including pharmaceuticals, due to its ability to facilitate carbon-carbon bond formation. Its stability in tetrahydrofuran makes it a preferred choice for reactions requiring a polar, aprotic solvent. The compound is also utilized in research and development for exploring new catalytic processes and materials.