Primarily used in gold plating and electroplating processes, this compound serves as a key source of gold ions in solutions. It is particularly valued in the electronics industry for depositing thin, uniform layers of gold onto components, enhancing conductivity and corrosion resistance. Additionally, it finds application in the synthesis of gold nanoparticles, which are utilized in medical diagnostics, drug delivery systems, and catalysis. Its role in specialized chemical reactions and material science research further underscores its importance in advanced technological applications.