This cobalt(II) complex with the dppf ligand is used as a catalyst in organic synthesis, particularly in cross-coupling reactions like Negishi and Kumada couplings, enhancing selectivity and efficiency in C-C bond formation. It is also applied in hydrogenation and reduction processes, as well as in the synthesis of complex organic compounds. While not typically chiral, its bidentate phosphine ligand provides unique steric and electronic properties valuable for fine chemicals, pharmaceuticals, and advanced materials development. Note: It is not primarily used for asymmetric hydrogenation due to the achiral nature of the dppf ligand.