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AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a ...

This AI cycle is a story of Schumpeterian creative destruction as fragile IT consulting models face structural shifts. Check ...

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...

On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.

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The selloff was triggered by a post from Anthropic outlining how its Claude Code tool can significantly automate the analysis and modernisation of legacy COBOL code. COBOL is a programming language ...

IBM shares plunged 13.2% after Anthropic said its Claude Code can modernise COBOL, raising fresh fears of AI-led disruption.