Used as a catalyst in polymerization reactions, particularly in the controlled synthesis of olefins and dienes. It promotes stereoselective transformations due to its well-defined coordination geometry and stable radical character. Commonly applied in academic research for studying reaction mechanisms involving cobalt-mediated radical processes. Also utilized in the development of advanced materials where precise molecular weight and polymer architecture are required. Its bulky ligand structure enhances thermal stability and prevents unwanted side reactions, making it suitable for low-temperature catalytic systems.