There aren’t a lot of businesses built around tape cassettes or floppy disks, so a lack of experts who can repair those decades-old technologies is rarely a problem. That’s not the case with Cobol—a 64-year-old programming language that Wall Street and the federal government rely on to process tens of trillions of dollars worth of transactions annually. As Cobol gets older, those massive organizations have been hard-pressed to find people who can update their ancient systems.
Can AI fix Wall Street’s ‘spaghetti code’ crisis? Microsoft and IBM are betting that it can
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