Used as a catalyst in organic synthesis, particularly in cross-coupling reactions and hydrofunctionalization processes. Employed in the preparation of other cobalt-based compounds for research and industrial applications. Also utilized in electroplating baths to deposit cobalt alloys on surfaces for wear and corrosion resistance. Serves as a moisture indicator in silica gel due to its reversible color change with hydration. Applied in the synthesis of coordination polymers and metal-organic frameworks (MOFs) for material science studies.