Used as a precursor in the synthesis of rhodium-based catalysts for industrial processes such as hydrogenation, hydroformylation, and automotive catalytic converters. Employed in electroplating to produce wear-resistant, reflective, and corrosion-resistant coatings on jewelry, optical instruments, and electrical contacts. Applied in the production of specialty glasses and optical fibers due to its ability to modify surface properties. Also utilized in research for developing new catalytic materials and sensors.