If it is a high temperature grease, it is suitable for the ears of the pads where they touch the calipers.

Nothing should be applied to the guide pins, they should be assembled dry.

If it is designed to be an insulator, like the plastic compounds that set up, it can be applied to the backs of the pads, but you can get some reduction in brake pedal feel from that.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue