Used primarily in the field of organic synthesis, this compound serves as a catalyst in various chemical reactions, particularly in the formation of carbon-carbon bonds. Its application extends to the synthesis of complex organic molecules, where it facilitates efficient and selective transformations. Additionally, it is employed in materials science for the preparation of gold-containing nanomaterials, which are utilized in electronic devices and sensors. The compound's unique properties make it valuable in the development of advanced catalytic systems and functional materials.