This cobalt complex is primarily utilized in catalytic processes, particularly in asymmetric synthesis, where it facilitates the creation of chiral molecules with high enantioselectivity. Its unique structure allows it to act as a catalyst in organic reactions, such as cyclopropanation and hydrogenation, which are critical in the production of pharmaceuticals and fine chemicals. Additionally, it is employed in research to study coordination chemistry and the behavior of transition metal complexes in various reaction environments. Its stability and specificity make it a valuable tool in advancing synthetic methodologies and developing new catalytic systems.