I have a hunch the entire financial system secretly runs on COBOL
It’s not a secret. Those are highly coveted, high paying programming jobs.
I’ve heard crazy stories about people getting an annual salary for very few days work a year
I’ve worked at many financial institutions and government agencies, and they all have extremely old mainframe systems running COBOL. Every time the executives bolster “We’re finally going to move off of this old system and modernize”, I show them the price and they scamper off into their back rooms to whine about profit margins. It’s always fun when something does go wrong with those systems and they go through the cycle all over again, but now it’s even more expensive to fix
tbh refactoring (if it can be done safely) could be a huge help to orgs and fantastic AI use case. Rarely do businesses want to spend the resources to improve a codebase. Hope it goes well for IBM.
IBM, eager to keep those legacy functions on its Z mainframe systems, wants that code rewritten in Java
after years of “java is the new COBOL” jokes, here are hard news finally confirming it
