Used as a catalyst in organic synthesis, particularly in cycloaddition and Diels-Alder reactions, due to its ability to activate dienophiles. The complex facilitates carbon-carbon bond formation under mild conditions, making it valuable in the production of fine chemicals and pharmaceutical intermediates. Its phosphite ligand enhances stability and influences selectivity, while the cobalt center acts as a redox-active metal site. Commonly employed in homogeneous catalysis where controlled reactivity and stereoselectivity are required.