If you are taming something and have an owl, you can use its freezing ability to heal it. It does not affect torpor or taming effectiveness. This way if the dino gets hit, you can heal it fully, and then let it wake up so you can try again without the risk of killing it.
They can thermally detect any living thing around you giving a strong pvp advantage. Like a night vision with wings. Plus they can put you and your allies in stasis and heal you whilst being an ice cube. Decent airborne mount -