Used as a precursor in catalyst preparation for industrial chemical reactions, especially in hydrogenation and hydroformylation processes. Employed in the production of rhodium-based coatings for optical and electronic devices due to its ability to form thin, conductive films. Applied in research settings for synthesizing rhodium nanoparticles, which have catalytic and sensing applications. Also utilized in electroplating baths to deposit rhodium metal layers that offer high reflectance, corrosion resistance, and hardness on jewelry and industrial components.