AnalysisDevelopersOctober 26, 2026

AI's bid to migrate COBOL legacy code falls short, report finds

Read original source →theverge.com

IBM says COBOL underpins over 40% of online banking systems, 80% of in-person card transactions and 95% of ATM transactions; one estimate puts its inefficiencies at ~$105B a year in US GDP. OpenAI touted "substantial improvements" in models' legacy-code migration on October 19th, but The Verge concludes the ancient code "may meet its match in AI. Today is not that day."

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