Used primarily in catalysis, it plays a crucial role in various organic synthesis processes, including hydrogenation and oxidation reactions. Its application extends to the preparation of platinum-based catalysts for fuel cells, enhancing their efficiency and durability. Additionally, it is utilized in the development of advanced materials for electronic components, contributing to improved performance in devices such as sensors and semiconductors. In the field of medicine, it serves as a precursor in the synthesis of platinum-containing compounds, which are investigated for their potential anticancer properties.