Used as a catalyst in organic synthesis, particularly in reactions involving C–H activation and cross-coupling processes. It serves as a cobalt source in electroplating baths, where it contributes to the deposition of cobalt and cobalt alloy coatings with good magnetic and corrosion-resistant properties. Employed in the preparation of other cobalt-based compounds and coordination complexes for research and industrial applications. Also utilized in certain types of battery materials and as a reagent in analytical chemistry for selective ion detection.