Shares of IBM fell by more than 13% on February 23, as it was suggested that "Claude Code," an AI tool released by Anthropic, could assist in the modernization of legacy code—outdated programming languages like COBOL—which is used in mission-critical systems for sectors such as finance and government agencies.
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Anthropic's AI tool aids COBOL modernization, contributing to IBM stock decline
This article is a translation. Read the Japanese original
In a blog post, Anthropic explained that COBOL operations could be streamlined at a fraction of the traditional cost. COBOL is a critical language estimated to handle 95% of ATM transactions in the United States, but the declining number of professionals capable of understanding it has become a challenge. Anthropic states that by leveraging AI, the cost of deciphering code can be significantly reduced, making rewriting easier.
Some views suggest this new application could pose a potential threat to business data services, which are at the core of IBM's business, contributing to investors increasing their selling in the software sector.
Sources
- AIを使ったCOBOLのJava変換、「百害あって一利なし」 AI活用の“落とし穴”を考察 （ITmedia AI+、2026-09-29）
- Business Insider