All sorts of things.
If you're going to take a fall with slack in the system, do not do it on slings - you have to have something dynamic to take the shock out of the fall.
For anchors, slings are fine and designed for the job.
I'd also suggest - although I'm happy to be contradicted - that a sling is handy for something like dangling off a pulley, where there is no opportunity for loading.
There is, of course, a big difference between climbing and SRT - in climbing, falls are expected and you use dynamic rope to minimise the shock loading.
In SRT the aim is that you do not fall (at all) - however, there's still a chance that you could slip while clipped into cowstails and you'd get an unpleasant shock-loading if you're using slings rather than something dynamic.
Which reminds me, I must get round to buying some proper cowstails someday 😞
Hello again darkness, my old friend...