Used in the synthesis of gold nanoparticles, it acts as a stabilizing agent to prevent aggregation, ensuring uniform particle size. It is also employed in surface modification processes, where its thiol group binds to metal surfaces, creating self-assembled monolayers for applications in sensors and electronics. In organic chemistry, it serves as a protecting group for thiols during complex reactions. Additionally, it is utilized in the development of drug delivery systems, where its structure aids in enhancing biocompatibility and targeting efficiency.