OpenAI says its models can help banks migrate from old COBOL programs

OpenAI's models are now better at building and migrating software in old programming languages with a dwindling number of programmers, including COBOL, Fortran and Visual Basic. As the company explains, 40 percent of world's banks still rely on COBOL systems, and migrating to ones that use newer languages would not only cost them millions to hundreds of millions, but also a lot of time. Programmers that work with COBOL are aging out of the workforce, however, so the banks that still use it will have to migrate within the next few years. The company said its work on improving its models' COBOL capabilities is guided by developers and enterprise customers who submitted feedback. Coding models are apparently struggling when it comes to working with old languages.