AI Tackles Aging COBOL Systems as Legacy Code Expertise Dwindles

US government agencies and Fortune 500 companies are turning to AI to modernize mission-critical systems built on COBOL, a programming language dating back to the late 1950s. The US Social Security Administration plans a three-year, $1 billion AI-assisted upgrade of its legacy COBOL codebase [alternative source], according to Bloomberg.

Treasury Secretary Scott Bessent has repeatedly stressed the need to overhaul government systems running on COBOL. As experienced programmers retire, organizations face growing challenges maintaining these systems that power everything from banking applications to pension disbursements. Engineers now use tools like ChatGPT and IBM's watsonX to interpret COBOL code, create documentation, and translate it to modern languages.

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