Advantages:
Total galvanic isolation between input/output,
High accuracy,
Low drifting by temperature,
Wide temperature bearable range.
Applications:
AC power distribution system: such as power distribution cabinet, railway power supply;
Signal monitoring: such as AC current monitoring for filament relay, input signal monitoring for motor, etc
https://www.wbsensor.com/voltage-sensor/dc-voltage-sensor/analog-standard-signal-converters-signal.html