IBM's $40B stock wipeout is built on a misconception: Translating COBOL isn't the same as modernizing it

Investors wiped $40 billion from IBM's market cap after Anthropic released COBOL translation tools. Analysts say the market ...
The Register on MSN

IBM stock dives after Anthropic points out AI can rewrite COBOL fast

Big Blue has been saying this itself since 2023 IBM’s share price slumped by 13 percent on Monday, seemingly caused by investors reacting to an Anthropic blog post that points out its Claude Code ...
Opinion

IBM falls most since 2000 after Anthropic COBOL AI claims; Thomas says translation isn’t modernization

IBM’s ( IBM) Software and Chief Commercial Officer, Rob Thomas, wrote in a Monday blog post that translating COBOL code isn’t equivalent to modernizing enterprise systems, emphasizing that platform ...
Government Technology

An Apology to COBOL: Maybe Old Technology Isn’t the Real Problem

In April 2020, New Jersey’s governor, Phil Murphy, stepped up to a microphone and told journalists that he was amazed the state still ran its unemployment system on COBOL — a 60-year-old programming ...
TechCrunch

IBM taps AI to translate COBOL code to Java

COBOL, or Common Business Oriented Language, is one of the oldest programming languages in use, dating back to around 1959. It’s had surprising staying power; according to a 2022 survey, there’s over ...
ZDNet

If COBOL is so problematic, why does the US government still use it?

Some people think tens of millions of dead people are collecting Social Security checks. That's not true. What's really going on is people don't understand its old, underlying technology. The saga of ...
Computer Weekly

Cobol knowledge crisis threatens Dutch financial systems

Cobol still forms the backbone of many crucial financial and administrative systems, with high usage in The Netherlands due to its early and adept automation of the economy. Cobol was, and remains, ...