In mathematical physics you use solutions of the Yang Baxter equation in many contexts.
In special in the quantum integrability solutions of the Yang Baxter equation are used for obtain the commutation relations from the Yang Baxter algebra $R_{12}(u,v)T^{1}(u)T^{2}(v) = T^{2}(v)T^{1}(u)R_{12}(u,v)$ can further include boundary terms. The $R$ in the context of statistical mechanics (two dimensional lattices) is related with the weights of Boltzmann, the $T's$ are associated with the monodromy matrix, which are the products of the locals $R$ for the fundamental models (fundamental models: which the lax operators are expressed in terms of $R$) this first part is the quantum inverse scattering method the second part we wish to diagonalize $[\tau(u),\tau(v)] = 0$ ($\tau$ is the transfer matrix) thus we use the first part for obtain the states of Bethe and Bethe equations this is the Algebraic Bethe Ansatz (The important thing here is the existence of something called the pseudo-vacuum), the most fundamental is the Yang Baxter equation it is the essence. You may also have 1+1 quantum integrable field models and apply such techniques. After the algebraic bethe ansatz you have to compute the inner product and correlation functions, this is the part that has more open problems.
Another method different from algebraic bethe ansatz is the SOV-Sklyanin, which is a method applied to both the quantum and the classical case it arises from the separation of variables in classical mechanics, Sklyanin extends this by making the method most general, currently this method is proving more favorable to compute correlation functions (G. Nicolli work's), in SOV you also have the yang baxter equation.
With respect to the experiments, experimental techniques in trapping and cooling atoms in 1D have provided the realization of exactly solved models in the lab.
Lieb-Liniger Bose gas:
T. Kinoshita et al Science 2004, PRL 2005, Nature 2006; A. van Amerongen et al
PRL2008; T. Kitagawa et al PRL 2010; J. Armijo et al PRL 2010
Super Tonks-Girardeau gas:
E. Haller et al Science 2009
Degenerate spin-1/2 Fermi gas:
Y. Liao et al Nature 2010; S. Jochim et al, Science 2011,PRL 2012: Deterministic
preparation of few-fermion system; 2 fermions in a 1D harmonic trap
Two-component spinor Bose gas:
J. van Druten et al arXiv:1010.4545
Quenches is a very current topic in this research follows the day July 26, this topic will enable further experiments (I don't know this). http://arxiv.org/abs/1407.7167
In the classical context solutions of the classical Yang Baxter equation, serve to compute the Poisson algebras $\lbrace T^{1}(u),T^{2}(v)\rbrace = [r_{12}(u,v),T^{1}(u)T^{2}(v)]$ (there are other depending on which model and boundary conditions you have) from this you have a connection with the Hamiltonian formalism.