Used as a moisture indicator in silica gel desiccants, where it changes color from blue (dry) to pink (hydrated), providing a visual sign of humidity levels. Commonly employed in laboratories and industrial packaging to monitor and control moisture. Also used in educational settings for chemistry demonstrations involving hydration and dehydration reactions due to its reversible color change.

Employed in electroplating baths to deposit cobalt metal coatings for wear and corrosion resistance, as well as in metal surface treatments for hardening.

Serves as a catalyst or precursor in organic reactions, including processes for producing synthetic rubber and plastics.

Utilized as a precursor in the production of cobalt compounds and pigments for ceramics, paints, and glass, imparting blue or gray colors.

In biological research, used to stimulate erythropoietin (EPO) production in cells, facilitating studies on hypoxia and tissue oxygen deprivation.