Widely used as a catalyst in organometallic reactions, particularly in polymerization processes. It shows high activity in the synthesis of conjugated diene polymers and copolymers, offering control over molecular weight and microstructure. Employed in homogeneous catalysis due to its stability and reactivity in low-oxidation-state cobalt chemistry. Also utilized in research for C–H bond activation and transformation reactions, where its sterically bulky ligands enhance selectivity. Commonly applied in academic and industrial settings for developing new catalytic cycles involving radical or single-electron transfer pathways.