Used primarily in research and specialized chemical synthesis, this compound serves as a catalyst precursor in certain homogeneous catalytic reactions. It is also employed in the preparation of other rhodium-based complexes due to its stable coordination environment. Its chloride ligands can be readily substituted, making it a useful starting material in organometallic chemistry. Additionally, it finds application in electrochemical studies and in the development of sensors or materials requiring noble metal centers. Due to the presence of rhodium, it may also be explored in photophysical applications, though such uses are limited and typically experimental.