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IBM Stock Plummets On Anthropic's New AI COBOL Threat
(MENAFN- AsiaNet News)
Shares of International Business Machines Corp. (IBM) plummeted more than 11% on Monday after Anthropic announced Claude's Common Business-Oriented Language (COBOL) capabilities.
In a blog post, Anthropic said that tools like its Claude Code can automate the exploration and analysis phases in COBOL modernization by mapping dependencies across thousands of lines of code, documenting workflows, identifying risks faster than human analysts, and providing teams with deep insights for informed decision-making.
“With AI, teams can modernize their COBOL codebase in quarters instead of years,” Anthropic said.
COBOL is an English-like programming language that is frequently employed in high-volume data processing, most often in banking and administrative systems. The language is a core business area for IBM.
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