How this 65-year-old programming language that powers world's 9% ATMs is making companies spend millions to keep it running
Despite its age, COBOL remains the critical backbone of the global financial system, handling trillions daily. As its original developers retire, a severe shortage of skilled programmers has emerged, leading to astronomical salaries for those who can maintain the ancient code. Young developers are now capitalizing on this scarcity, while institutions explore AI solutions to bridge the gap.
Despite its age, COBOL remains the critical backbone of the global financial system, handling trillions daily. As its original developers retire, a severe shortage of skilled programmers has emerged, leading to astronomical salaries for those who can maintain the ancient code. Young developers are now capitalizing on this scarcity, while institutions explore AI solutions to bridge the gap.
