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OpenAI says its models can help banks migrate from old COBOL programs
The company’s models are now better at working with COBOL and other old languages.
AI Summary
OpenAI says its latest models are more capable of working with legacy programming languages such as COBOL, Fortran and Visual Basic. The company notes that roughly 40 percent of the world’s banks still run core systems written in COBOL, and replacing those platforms can cost millions to hundreds of millions of dollars and require extensive time. Because the pool of COBOL programmers is shrinking as they age out of the workforce, banks face pressure to transition to newer languages within the coming years. OpenAI’s improved models aim to assist in building and migrating this software.
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